Cup & Handle Breakout on $TSLA after Gap fill today. $1,050 TGT
Huge Mover and this cup from recent record highs had shorts expecting a big crash, but buyers have come in and institutions are buying as Analysts are finally catching on and raising their price targets. The crashed hard this morning with everything else buy buyers came in strong at the gap fill at $860 forming a bullish hammer reversal on the Daily chart. MEASURED MOVE OF THE BREAKOUT HAS $1,050 TARGET.
News broke right at close that the injunction that had been brought against their Giga 4 Berlin had been over ruled and that Tesla could Continue the build out... i'm always amazed how news like this breaks at the exact opportune moment.
Stochastic RSI also got to oversold and crossed bullish into the close.
Even if markets don't recover tomorrow, i still think we see a gap and go on the open squeezing these shorts to the point of the most recent high of $944.78, and then right after that is the all time high at $968.99. Past that and we could see $1,000 test very quickly, as everyone is expecting it to test $1,000 before taking a breather.
News broke right at close that the injunction that had been brought against their Giga 4 Berlin had been over ruled and that Tesla could Continue the build out... i'm always amazed how news like this breaks at the exact opportune moment.
Stochastic RSI also got to oversold and crossed bullish into the close.
Even if markets don't recover tomorrow, i still think we see a gap and go on the open squeezing these shorts to the point of the most recent high of $944.78, and then right after that is the all time high at $968.99. Past that and we could see $1,000 test very quickly, as everyone is expecting it to test $1,000 before taking a breather.
Comment:
Looking good this morning.. market is down and Tesla is up nicely. Watch for the break over the $928.50 Area... good luck and lets make some Money!
Comment:
Wondered if they would hold it back for Opex. Still finished green on a nasty day in the market which is impressive, and trapped even more shorts today. Looks like we will have to wait for monday... for the breakout. Have a great weekend! Cheer!