Possible Wave counts of TSLA Hourly & DailyDaily Time Frame Chart
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Teslaanalysis
TESLA - Best Opportunity for Long Term InvestmentPrice is at extreme discount and provides opportunity for long term investment.
Price can violate the low around 101 and immediately target the buyside liquidity above 300.
Price may also fail to violate the sellside liquidity around 101 and continue higher indicating a failure swing reversal.
Both the scenario indicates bullishness in 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 Cup & Handle PatternBeautiful Cup & Handle Pattern is formed on chart.
Entry
We can go long when price breakouts with strong bullish candle above the neckline of the pattern.
Stoploss
We can keep stoploss below the neckline.
Target
Target will be same as depth of the cup as marked on chart
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Tesla going to 100 usdAs 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 for Tesla. Now why is this obvious? The next support lines are created by the previous support and resistance lines, created in Juli 2020. Old resistance becomes new support.
Long TeslaTesla
Cmp - 623
Stop - 560 on DCB
Expectation -
T1 - 780
T2 - Open, Review at 780
Expected Holding Period - 80 trading days or earlier for T1
View:- Swing/Positional
Disclaimer:-
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing
Tesla in Buy ModeReasons 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