IvanLabrie
Long

TSLA: Interesting accumulation base

NASDAQ:TSLA   TESLA INC
I went long TSLA             right before the closing bell last Friday.
I'll update as soon as the market opens today.

I think oil             is set for a rally and this can only benefit TSLA             which already looks ready to climb up from this zone to the 250+ region.
The Key Earning Levels have been constructive, showing strong support holding and a series of higher lows while spending time in this consolidation, which to me looks like massive accumulation in the shadows.

As an extra, the quarterly chart shows it's possible to get a new uptrend signal similar to the one that triggered back at the end of April 2013, which makes the long side a very interesting proposition.

Cheers,

Ivan Labrie.
Trade active: On track, up from my entry.
Comment: Range expansion up day today, looks like the uptrend will continue as expected.
Might be worth it to enter on retrace after the close.
Comment: Trade failing, might be safer to stand aside.
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