Here we are charting
TSLA
May/August corrective breakout cycle. Like clock work, TSLA will reach a low in May and proceed to accumulate to a massive breakout by, very near to or before August. These breakouts are massive and can yield substantial gains for the patient investor.
In addition TSLA is displaying a classic corrective pattern which can be traded on any chart where it develops. The Corrective wedge. TSLA however is not a stock you want to wait till the end or near the end of the Wedge. It will ALWAYS break out early.
We are looking for a low near 130 with as much as 120. Likely never going to 100 unless its on a complete breakdown to 20 bucks.
Why 20 bucks? There is a gap on the quarterly chart it left behind.
Top side target will be at least Old Highs around 400.
For now I have to side Bullish.
TSLA
May/August corrective breakout cycle. Like clock work, TSLA will reach a low in May and proceed to accumulate to a massive breakout by, very near to or before August. These breakouts are massive and can yield substantial gains for the patient investor. In addition TSLA is displaying a classic corrective pattern which can be traded on any chart where it develops. The Corrective wedge. TSLA however is not a stock you want to wait till the end or near the end of the Wedge. It will ALWAYS break out early.
We are looking for a low near 130 with as much as 120. Likely never going to 100 unless its on a complete breakdown to 20 bucks.
Why 20 bucks? There is a gap on the quarterly chart it left behind.
Top side target will be at least Old Highs around 400.
For now I have to side Bullish.
Kommentera:
I hope anyone following this idea made a boatload on earnings. This is a long play. Wait for the pullback to dip buy in. Ive got 400 strike calls for December