Search in ideas for "TESLA"
Tesla Nearing its bottom - AccumulateTesla formed a Head and Shoulder pattern on charts and have fallen from 222 to 140 already.
Its nearing the bottom and currently at first support level. The support levels are marked on the charts. $118 is strong support if it continues to fall further.
Recommendation is to start accumulating the shares in small quantity from now.
TESLA ON HOURLY CHARTTesla has been trading below 200 MA for good period of time & has formed Bearish Pennant price action pattern which indicates a Bearish continuation trend signal. Using Fibonacci we also plotted that, Tesla is not able to break its 50% retracement level which infact is exactly at the price level where 200MA is standing. It’s a double & strong reversal sign. Also if we look at the resistance level we can observe that every time stocks comes near resistance price there was a good reversal with good volumes.(Red Volumes bars more).
Reason for shorting setup because-
1)Sustaining below 200MA indicating major downtrend.
2)Fibonacci levels retracements.
3)Selling pressure up, red candle in volume increasing near resistance area.
4)Bearish Pennant pattern.
Trade safe.
Tesla to retest $500 mark.Tesla is in ascending triangle which has bias to break to the upside.
Good fundamentals and strong demand.
RSI is also in ascending triangle.
I expect the price to either retest the uptrend line or break the $460 mark and go for $500.
How to play this?
So either buy the break of $460 or set a long position at $415 for improved reward.
Good luck!
Tibor
TESLA : Bullish - Butterfly-Wolfe Wave-Head Shoulders inverseTESLA : Bullish - Butterfly-Wolfe Wave-Head Shoulders inverse
A butterly was detected since several weeks
We have also a Head shoulders inverse
and a Wolf Wave Bullish
then the market can reach 207 and the 233 $
To monitor the EMA.50 and EMA.200 and ICHIMOKU "kijun"
NB : Divergences ROC and RSI , bullish
Tesla for long termTesla is expected to be purchased at around 127 dollars with a target of over 200% increase. I am looking at this investment with a long-term perspective. If the price drops to my buying level, I will definitely consider investing a significant amount. I have already initiated my investment and anticipate a further 20% decrease. It will be interesting to see how my prediction plays out.