Short-term Bullish TSLA Case
TSLA looks poised to fill its gap-down after seeing almost a week straight of positive PA, which would coincide with the gap in the Visible Range Volume Profile. This is a short-term trade idea, as TSLA from a purely technical standpoint appears to be in a longer-term Descending Triangle, with its lower support having already been broken, and its ultimate direction will likely hinge on fundamentals and the direction and breadth of the wider market as a whole.
In light of the greater economic direction, it's important to note that the break of the lower support line occurred at times of great pressure owing to Fed action re: interest rates.
TSLA has so far (in 2024) been the most anemically performing of the M7. In the past, it has outperformed many other of the M7 to the upside. From a purely technical standpoint, it would not be illogical to expect a similar outperformance (both to the downside and upside) once small-caps begin to move in confirmation of a wider-breadth bull market.
See also: Longer-term descending triangle:
See also: Closer-in view of gap and PT in question:
Not Financial Advice; Always do your own research. Assume I have no idea what I'm doing.
In light of the greater economic direction, it's important to note that the break of the lower support line occurred at times of great pressure owing to Fed action re: interest rates.
TSLA has so far (in 2024) been the most anemically performing of the M7. In the past, it has outperformed many other of the M7 to the upside. From a purely technical standpoint, it would not be illogical to expect a similar outperformance (both to the downside and upside) once small-caps begin to move in confirmation of a wider-breadth bull market.
See also: Longer-term descending triangle:
See also: Closer-in view of gap and PT in question:
Not Financial Advice; Always do your own research. Assume I have no idea what I'm doing.
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