Prediction:
TSLA will likely pull back to the green range (328–342), and in extreme cases, it may dip to the 318–320 area before starting a rally toward ~380 in June or July.
Eventually, it may aim for the ~420 range as the full target, though I’m not very confident about that at this point.
On the daily chart, the overall setup is forming a bull flag pattern, with the MACD showing a potential pullback reversal in the high-range.
The gap between 307 and 311 likely won’t be filled in the near future.
Action:
I plan to accumulate long positions around ~335 and will add more if it drops to 320, or if it breaks above the 10 SMA after breaking below the 20 MA without hitting 320.
Stop loss will be at filling the gap or breaking down 60 SMA.
Potential-loss ratio is 2:1 to 3:1, which is not ideal for TSLA or TSLL. So I will be looking for calls or BCS.
TSLA will likely pull back to the green range (328–342), and in extreme cases, it may dip to the 318–320 area before starting a rally toward ~380 in June or July.
Eventually, it may aim for the ~420 range as the full target, though I’m not very confident about that at this point.
On the daily chart, the overall setup is forming a bull flag pattern, with the MACD showing a potential pullback reversal in the high-range.
The gap between 307 and 311 likely won’t be filled in the near future.
Action:
I plan to accumulate long positions around ~335 and will add more if it drops to 320, or if it breaks above the 10 SMA after breaking below the 20 MA without hitting 320.
Stop loss will be at filling the gap or breaking down 60 SMA.
Potential-loss ratio is 2:1 to 3:1, which is not ideal for TSLA or TSLL. So I will be looking for calls or BCS.
Trade closed: stop reached
The gap was filled, and the drama began. This idea has stopped, and I will be looking for another opportunity.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.