R0ttenCandles

Long TESLA before mini breakout at 700

Long
NASDAQ:TSLA   Tesla, Inc
Telsa has been wanting to break 700 again for a while, and the TA is showing that the buyer volume just might have enough to make $TSLA pop.

Why bullish momentum?
  • RSI new high
  • MACD cross over + bullish bar (keep an eye on this spot especially particularly to indicate bullish momentum)
  • Hard VWAP bounce earlier July

700 has a pretty tough resistance, which is our first target R to break at the 128 day MA.

Retesting could indicate that we break through to upper Rs including: 714, 723, 753, 780 (targets). I will 1/2 TP at 715 and see whether we get a wick indicating profit taking or if bullish momentum holds and new buyers firmly enter tesla . S/L roundabout 665.



Note: I do short term holdings, no longer than 2 trading days max.
Comment: Tesla did not break-out - I am now holding tesla puts (shorting)