This chart is showing the Long Term Trend of Tesla from September 2022 and that it had formed an Inverted Head and Shoulders over the course of several months with a confirmed Breakout this past Monday.
With the Breakout above the Neckline, the Potential move should be $144.44 over the span of several month, possibly by year end or sooner. The value is determined by the differance in Price at the Low or bottom of the Head and the High point at the neckline on the same day.
On the day of the Breakout, May 29th, the low of that day was $184.53, add to that the $144.44 and that equals the potential move to $328.87.
Keep in mind that this will not be a meteoric rise but a standard zig zag with the Neckline acting now as a very strong support line.
It was back in February that NVDA also broke out from this same Chart Pattern under different circumstances....
What I find most interesting is that there has been no sign of the Bears Shorting Tesla for nearly 5 weeks and I seem to recall that EM was putting together a Legal Team to try and affectively stop this activity. Is this a possible outcome that the team achieved an injunction to at least temporarily prevent or slow down their efforts?
With the Breakout above the Neckline, the Potential move should be $144.44 over the span of several month, possibly by year end or sooner. The value is determined by the differance in Price at the Low or bottom of the Head and the High point at the neckline on the same day.
On the day of the Breakout, May 29th, the low of that day was $184.53, add to that the $144.44 and that equals the potential move to $328.87.
Keep in mind that this will not be a meteoric rise but a standard zig zag with the Neckline acting now as a very strong support line.
It was back in February that NVDA also broke out from this same Chart Pattern under different circumstances....
What I find most interesting is that there has been no sign of the Bears Shorting Tesla for nearly 5 weeks and I seem to recall that EM was putting together a Legal Team to try and affectively stop this activity. Is this a possible outcome that the team achieved an injunction to at least temporarily prevent or slow down their efforts?
Comment:
TSLA
So today, trading as per the expected pullback on the Linear Regression Channel I posted at 7 this morning in Tesla Minds, I hope many here were able to Bank some profits early morning. We just pierced it and stayed inside with the expected move lower. Now I'm posting the same chart only as a 1 hour chart and it is showing 2 Sell signals that showed up at 1pm today and the next at 6pm CST. I suspect further weakness with potential lows of $220.00 and $217.50
TSLA
So today, trading as per the expected pullback on the Linear Regression Channel I posted at 7 this morning in Tesla Minds, I hope many here were able to Bank some profits early morning. We just pierced it and stayed inside with the expected move lower. Now I'm posting the same chart only as a 1 hour chart and it is showing 2 Sell signals that showed up at 1pm today and the next at 6pm CST. I suspect further weakness with potential lows of $220.00 and $217.50
So tomorrow am we should see a gap up around this same level and short rally to $227.00 with a possible pullback at 9am-945 before the rally continues to take us through to $230.00...