Greetings investors and traders. I anticipate that TSLA will open the market with a morning star candle pattern, which signifies a bullish reversal pattern. The recently announced 4:1 split to occur at the end of this month sent TSLA shares up by $100 post market yesterday and pre-market volume is over 260K. If price closes in or above the Breakout Zone shown in the chart above, I anticipate a 1:1 move in relation to the base of the descending triangle pattern, which is roughly 30% and a price target of $1922.
As shown in the graphic, TSLA rose $429 (30%) in two days from 10 - 13 July (Friday & Monday), and then formed a bearish descending triangle pattern. Wait for higher volume in the breakout zone for confirmation. If the TTM Squeeze fires (dots turn green), this indicates a stronger case for upward movement. Although not shown, the daily RSI is 36.38.
Happy Trading!
As shown in the graphic, TSLA rose $429 (30%) in two days from 10 - 13 July (Friday & Monday), and then formed a bearish descending triangle pattern. Wait for higher volume in the breakout zone for confirmation. If the TTM Squeeze fires (dots turn green), this indicates a stronger case for upward movement. Although not shown, the daily RSI is 36.38.
Happy Trading!
Nota
Breakout confirmed. Watch for resistance at the $1650 area.Nota
TSLA just broke through a key level of resistance. Next Target is $2000.Nota
$2000 Target reached. Next Target: $2160.
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