Tesla is getting ready for a move and currently forming flag and pole pattern on weekly charts. In case it breaks out of this pattern on upper side then targets on weekly charts are
T1 - 300
T2 - 325
T3 - 350
Stop loss 190 on closing basis (weekly)
Happy Trading !
Tesla 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.
Beautiful Cup & Handle Pattern is formed on chart.
We can go long when price breakouts with strong bullish candle above the neckline of the pattern.
We can keep stoploss below the neckline.
Target will be same as depth of the cup as marked on chart
Please Like and Follow me.
As stock and crypto are in a bear market, Tesla is no exception to the rule. In fact, it seems like the fall is excellerating faster, which is indicated by Fetch Trends. The strength of the trend is visualized by the change in colors, giving this chart this gradient.
With the SPX hitting resistance, and Tesla breaking support, 100 USD is the next obvious target...
Cmp - 623
Stop - 560 on DCB
T1 - 780
T2 - Open, Review at 780
Expected Holding Period - 80 trading days or earlier for T1
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing
Reasons For Trade-
1: Risk Reward 1:3
2.4 Hr chart shows buyers strength
3.daily chart has taken support on trend line created from march
4. price created good base on 1 hr chart for upward movement
5. Price has good support on 20+50+200 days Moving average around 700
6.Fundamentally Strong company so buy on dips recommended for positional
Tesla Motors is already oversold in February. Swing trade setup buy at current levels 650-725, stop loss as per your risk profile for targets 777/829. Less risky traders can buy March 05 700 call option.