I still think TSLA will violently outperform the market, since we triggered a quarterly uptrend signal recently, and I expect it to rally to 3040, in the long term, but, right now we could form a sideways range, as the smart money accumulates buys, before going for the next batch of short squeezes.
Shorts have been extremely stubborn in TSLA, and continue to cling to their bearish fundamental views, despite being massively in the red. The short interest is 26%, and the days to cover, roughly 8-9 based on the average volume . TSLA 1.22% can still rally rapidly to 375, but, it'd be good to be careful and await further signals to add, like, seeing how earnings affect TSLA in the coming months. In the long term, the stock has potential upside to 3040.
Cheers,
Ivan Labrie
Komen
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Earnings were interesting, despite the loss, the outcome is positive with a few interesting highlights:
-Model 3 deliveries/production paints a bright picture for investors. -Revenue growth has been remarkable. -TSLA will sell their own insurance policies on cars. -There will be 4 more Gigafactories, the one currently active is dubbed 'Gigafactory 1' -Doubling down on Supercharger locations in the US
Price will gap up and potentially follow my proyected path, while buyers accumulate shares. I'll be buying on dips to add.
Komen
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I'm waiting for the bottom of this correction to be confirmed to add more. There's a weekly long opportunity here, but I'd reccomend waiting 3 more days for the daily to align with the long trade.
Komen
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5 std deviations from the linear regression line from bottom to top oversold, daily uptrend, if it breaks today's high next week, it'll be a nice signal too (daily rgmov is up)
Komen
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I think we can hold here, I added 2% at the open, and 2% above yesterday's close.
Komen
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If we continue to hold here, we'll see the forecasted sideways range, except it'll be a bit wider.
your charts and management are excellent. wish I had the time to learn from you.
IvanLabrie
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@Noobincrypt, thanks a lot. Good luck if you're in.
ropaar
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Thanks for update, Ivan. You mean 3040 as three thousand and forty dollars?
IvanLabrie
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@ropaar, `yes, potential top target based on the quarterly chart.
CoffeeHero
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@IvanLabrie, That's quite insane actually.. I'm in this position, so I hope you're right!
JRFreeze
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Hey, Hope all's well. I was wondering if you could expand on your long term target of $3040... I have noticed that Jan 19 $600 LEAPS currently cost around $7 and wondered your thoughts on the matter.
IvanLabrie
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@RJHumphries, hi, I try to keep 25% exposure to TSLA, as a long term hold. I might trade around this core position from time to time, but I find trading it in a cash account a lot safer than using options overall.
Saw my new post?
JRFreeze
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@IvanLabrie, didn't see that but all looks good. Whats your connection to $3040? Options can offer a good R/R, I figure if I buy 10 Jan19 $600 for $70 and the price on expiry hits $1000 that's a $3930 profit or a $70 loss... surely thats a good thing??
IvanLabrie
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@RJHumphries, yes but tricky to get the timing right...owning shares it is a lot simpler.
JRFreeze
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@IvanLabrie, yes definitely MUCH simpler :) Might take a little combination of the two! Though please can you give your reasons for the $3040 target....