TSLA has been the center of attention for the bulls and volatility for quite some time and it is forming a very interesting pattern that I cannot ignore.
There are die hard TSLA fans there that believe in the company, there no real reason not to, and there are swing traders that love swinging it because it moves. It is due for a volatile move once again, should we break resistance we'll see a pop that could take up through the high once again.
The technicals are building up for it, higher lows, EV potentially, a strong bull market its all coming together, just volume needs to come on board to the upside.
We need to see a drastic increase in volume as we break the $460 threshold for the next leg higher. With the S&P 500 potentially hitting 3,600 and the Nasdaq futures led by tech about to make a new high. It just seems likely that TSLA is about to make a leg up pop that we've been waiting for.
The targets to the upside are based on Fib extension lines and the volatility that TSLA is associated with could bring us there no problem. The prior TSLA idea we had, the market was forming a symmetrical triangle that could have sprung either way, the more recent price action is expecting a pop higher!
this idea is for educational purposes only, any trade or investment is taken and the traders personal risk.
@Acwood, "sideline" means just do nothing and wait until it´s time to see what is going to happen. No short , no long. I did whatsoever short DAX, and DJI !!! (This morning I was rewarded for that, way more than I expected) :D
ttk100
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@ttk100, I will def short if the next weeks we hit 600!
Tesla Q2 2020 (Millions USD)
Total Assets 38,135.00
Total Liabilities 26,754.00
And Tesla´s market capitalization is half a trillion USD! 500,000,000,000 $. More worth than all other car producers combined.
What kind of a bet is that? High risk , high uncertainty in the most unstable surrounding of all times...