Tesla weekly analysis :
we can see tesla now on sell trend and it can be a retest for go up Rally
in chart you see the possibilist on uptrend levels
if market make a choch in current place we can expect a target up to 120$ and second target 40$
if market break upside we can expect to stop hunt on all time high for new high
Price 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 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 !
US markets ( S&P 500 Index +0.3%) ended Wednesday in the green after a choppy session, perhaps exhausting the extreme sell-off sentiment from the previous day. The unexpected result from the US inflation report released on Tuesday had prompted speculation that stocks could start to head back to their June lows in reaction to a more aggressive Federal Reserve ....
Threee reasons why. I bought Tesla (TSLA) Today:
1. It's cool
2. Uptrend on Daily chart
3. Growing volume on Daily Chart (As you can see down on the linked picture)
Tesla
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
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.
