Based on the 1 & 3 month Stoch and CCI it appears to be at the overbought territory.
My conservative guidance would be that it appears to be losing energy and may drop down under the channel again over the next few days, potentially for a double bottom to establish a baseline.
May revisit if and when that occurs so that you can wait and see confirmation on the...
If you are looking for another conservative opportunity to buy, you are likely going to have to wait until it drops before 400 again.
My trailing stop loss triggered at $446 set to ($15) and will be looking for an entry point around Battery Day 9.22.20.
Looking for it to drop below my Green Channel Trend since it just dropped under the MA Ribbon.
If the hourly chart can stay above 207 - 208 the bull trend may continue.
The price action appears to be just below my trend channel.
If it can get back within the boundaries, buying now would be a discount but high risk.
If you missed my previous post and opportunity to catch the $2,000 target, now is another potential opportunity that may be worth considering.
I seems to be oversold at this point and will likely bounce back leading up to Tesla's 'Battery Day' and sell the day before for the 'Sell the News' profit taking.
If you want to be conservative perhaps wait until it stays above $114 for a solid support indicator.
If you want to wait for a better price use the Heikin Ashi candles to spot the reversal back to green on the Hourly Chart.
Historically it could drop another dollar or two if history repeats itself.
Looking for a discount or a good entry point? The buying window...
Weekly Chart shows a strong trend marching towards $2,000 around September-October, the month Tesla's planned Battery Day event.
If trend does not reverse:
Conservative estimate places $2,000 price target approximately October 5, 2020.
Moderate estimate places $2,000 price approximately September 14, 2020.
Bullish estimate places $2,000 price approximately August 31, 2020.
Sentiment: Bear @ Open. Bull @ Close / Will the energy built up over the last few flat days emerge today? Options expire plus dividends payout, Likely.
VWAP is flat but may dip below Bollinger Band at open.
Will watch for a bounce above $312 to confirm Bulls are back in control.
Using the Heikin Ashi candles to spot the trend should a stable one emerge.
If...
The Hourly Chart: The VWAP throughout the day was inconsistent but the price ended under it.
The 1M & 3M Chart: The MACD converged, blue on bottom, and appears to be on a downtrend trajectory under the neutral line.
The Bollinger Band: Hourly Chart looks oversold but looks Middle-Average on Daily and Weekly Chart.
Ceiling: Bulls need to break through and stay...
For most of today the trend line played jump rope with the VWAP after the gap up on the 1D 1m Chart.
The candles are consolidating for another move but to which direction?
The last 1h Chart candle was a Doji before market closed so this neutral indicator doesn't give me much direction; Although 3M chart still maintains its Long 3-Month Bullish trend
The MACD...
Thursday and Friday were two huge Bear Trading days that took the VWAP and MACD under the trend line.
Monday the market established what seems to be a floor of resistance and throughout the day crossed above the trend line on both the VWAP and MACD.
Used and additional Trident to try to establish a range similar to a Bollinger band to establish oversold and...
