Massive Cup and Handle on TSLA?

Taking a larger look at TSLA's chart, I noticed there may be a massive Cup and Handle pattern emerging.

If this pattern plays out, we could see up to a 60% decline in TSLA in the coming months as the height of the cup is about 30%. I'm not sure how likely a 60% decline is, due to the recent high volume and bullish fundamentals, but only time will tell.

TARGET POINTS
- TP1 | ~900
- TP2 | ~630

Purely educational and not financial advice.

Kommentera:

*Inverse Cup and Handle

Kommentera:

TP1 Hit!

Kommentera:

It looks like $850 is somewhat a line - if that support is broken we could see *much* more pain for TSLA in the coming days/weeks of at *least* a drop back down to $800.

The drop after earnings today indicates that earnings were already priced in after deliveries were released. I think supply chain shortages are going to potentially chop TSLAs projected growth for this year.

SHORTER TERM DOWNSIDE TPs
TP1 - $800
TP2 - $760
TP3 - $720

Kommentera:

SHORTER TERM DOWNSIDE TPs:
TP1 - $800 | HIT!
TP2 - $760 | HIT!
TP3 - $720
TP4 - $700

I hope some of you got in on this - puts printed!

I'm thinking the bottom might be around ~$630 as that would be about a 2x retracement of the inverse cup and handle - only time will tell!

Kommentera:

I forgot to update this last week, however...

SHORTER TERM DOWNSIDE TPs:
TP1 - $800 | HIT!
TP2 - $760 | HIT!
TP3 - $720 | HIT!
TP4 - $700 | HIT!

I believe we'll be making a lower low in the coming weeks and hit that $630 mark but only time will tell!