IvanLabrie
Long

TSLA: Correction potentially over

NASDAQ:TSLA   TESLA INC
I'm long TSLA             from here, risk is $19.83 per share. I expect a short squeeze rally to come after the merger news come out. If price drops lower, I'd look to buy near $150, but I doubt it'll happen. Long term, buying in this wide range, between 150 and 200 is possibly a great trade.

Technically wise, price appears to have formed a falling wedge , maybe the last wave of a correction before more upside. If that's the case we'll see a very rapid rally back to the $270 mark in 1/4 of the time it took to fall down from it. Additionally, we're up for the day here after testing a low volume support level from the weekly, so we have a low risk long opportunity in play.
Refer to Tim West's TSLA             Elliott Wave count for more information. (keep in mind this is my interpretation of the chart. If you have any doubts about the wave count, contact Tim.

Good luck,

Ivan Labrie.
Comment: Absolutely spot on...85% approved the Solar City merger, we can expect a massive short squeeze to begin.
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Comment: Acting great...hold.
Comment: Great progress, let it run.
Comment: You may reenter or add here.
Comment: We might be seeing a double bottom here, but it's not entirely clear yet.

snapshot
Comment: We have a 10 bar mode and uptrend signal now, I'll add another position tomorrow, ideally on dips.
Comment: http://seekingalpha.com/article/4029605-teslas-short-interest-surges-solarcity-deal

We can see a huge short squeeze here soon. Hold longs.
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Comment: 215-225-227 next.
Comment: https://www.bloomberg.com/news/articles/2017-01-14/spacex-successfully-launches-rocket-with-payload-of-satellites

Some good news at last...
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You are a smart man
tsla -long

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@ChimbOt, or we're both crazy...but it's worth a shot considering tomorrow's news.
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Rally back to the $270 mark in 1/4 of the time it took to fall down from it, on order this prediction to be true, price was dropped in 7 months from 270 to current price 184. 1/4 time means next 2 months.
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IvanLabrie PRO keshavreddi
@keshavreddi, hi, yes, if this were a completed terminal pattern, that would be the likely outcome.
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What it means it finally bounce up?
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IvanLabrie PRO SebastianTarlach
@SebastianTarlach, Possibly, the market has been awaiting to hear about the merger, and we have a live event today. If it shoots up with oil, and oil keeps going, that's a good enough catalyst for a short squeeze rally.
Bears are paying massive interest to hold short positions open, that can create a brutal rally.
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@IvanLabrie, ohh thanks that's a good news.. I am gonna buy...when is that announcement gonna happen I am going to put on it all my cash
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IvanLabrie PRO SebastianTarlach
@SebastianTarlach, Never put all your cash in anything...I'd reccomend 2% of it, no leverage.
Announcement is out today at 1pm PST, in like 5 hours and 11 minutes.
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@IvanLabrie, thanks so much for your tip and charts absolute legend..made 3000£ thanks to you xxxx
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IvanLabrie PRO SebastianTarlach
@SebastianTarlach, hey, glad to hear, it just began, let's see how it moves until all shorts are squeezed. I'll update when I feel we can add to longs, and when to trail stops.
Cheers mate.
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@IvanLabrie, thank you so much you're a LEGEND
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Great. I am thinking to buy call options tomorrow. You think that's a good idea. How far out you think I should buy, 3 months, 2 months or longer? Thanks.
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@ropaar, Yes, you can buy until December to be safe, or just buy shares. I'm long shares.
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snapshot


divergence ?
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@G13Man, Yes, there has been a dissipation of bullish momentum over the past 2 years and this should lead to the beginning of a new bearish trend.
[TSLA SHORT] TSLA
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IvanLabrie PRO vonLuftwaffle
@vonLuftwaffle, I disagree, but you can read my conclusions in the chart above.
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G13Man G13Man
@G13Man,
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thinking this could go up a bit more
the slow downs seem to lead to quick ups
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@G13Man, definitely, there's virtually no resistance above. We could already be in the continuation of the quarterly uptrend...upside to 3040.
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@IvanLabrie . Maybe TSLA is having a correction?
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@ropaar, hi, yes, it won't just go in a straight line, but we should see a rally from here onwards.
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ropaar IvanLabrie
@IvanLabrie, Thanks. I haven't enter a position yet.
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@ropaar, well you might as well take it here.
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ropaar IvanLabrie
@IvanLabrie, seems like a plan. Thanks.
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ropaar ropaar
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Hi, I know this was written 4 days ago but I'd like to know if you're still bullish. I personally think we're going to head down to $150 and possibly break that by Jan 2017 based on the dissipation of bullish momentum we've seen in the past 2 years. I'd love to get your feedback on my idea.
[TSLA SHORT] TSLA
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IvanLabrie PRO vonLuftwaffle
@vonLuftwaffle, My analysis isn't based on moving averages, or these observations so I disagree. I think we have a bottom in oil, and TSLA here, now. Predicting far longer into the future, I wouldn't know, but I'm biased towards the long side.
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G13Man vonLuftwaffle
@vonLuftwaffle, your 150 prediction matches the low He mentioned in his above / original comment

i tend to agree lower for now ,
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Nice!
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@Ozzy, thanks, you took the trade?
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Ozzy IvanLabrie
@IvanLabrie, Yup! I thought the good amount of previous resistance in the area was worth the shot!
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@Ozzy, I'm glad to hear, rocking it for now. Crossing fingers! See you over 207 ;)...then we can aim for 215+.
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Been a real nice ride up to 226. What next in your opinion??
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IvanLabrie PRO RJHumphries
@RJHumphries, I think it could be in a bull market phase, for the longer term. It's harder to 'pay up' if you already closed, but we might have to do that soon.
I'm flat for the moment.
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I go away for a few months and come back to $TSLA minting new highs. Thanks for the warning Elon :). Great job as always Ivan! Love your analysis -- Tim will be proud ;).
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IvanLabrie PRO ExcitingTechnology
@ExcitingTechnology, hey, thanks a lot. And yes, thanks to Elon we had a good run ;)
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