Beautiful 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 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. $118 is strong support if it continues to fall further.
Recommendation is to start accumulating the shares in small quantity from now.
Tesla about to form hormonic ABCD pattern. Target for the same comes near 140$. From there will see next . For this time short near 180$ , target 150$ , 140$ , keeping Sl of 204$
A one more close of four hour candle upside of red line can give a apportunity for long, Stop loss should be below the red line....trade the rage carefully
As the EV game is getting stronger we must have one of them in our portfolio.
The leader of the EV pack TESLA.
They have produced magnificent numbers in terms of sales literally making it 2x compared to last year.
Recent upgrades by Morgan Stanley etc.
The company is rewriting the mechanism of the chips , clearly taking advantage of the chip shortage crisis.
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
26-May-21
NASDAQ:TSLA
Breakout Failure on top.
The chart structure is shifting towards consolidation and test of supports.
Sustaining and closing below 601 in the coming weeks may well take Tesla to break the low of 546 & then proceed to achieve 450-36 to 420 range.
The Down move scenario gets invalidated on successive closing above 670
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.
