Tesla developed a Hidden Bullish Divergence and a Hidden Bearish Divergence WITHIN.. this is a 2 in 1 zone where i want to say, a unconsidered asset to trade in, this has extreme volatile gaps in the RSI, it can reverse on you anytime, but shows bullish momentum in the short term. Tesla being the handy electric, chip, solar and software manufacture, but hypervalue on earnings decade ahead of it's time, now putting that information to the side, a continuation squeeze to the downside will form at the end of the triangle, and it will be very bearish.
meanwhile take profit is for the short term (maybe August calls?); TP1: 734 TP2: 766 TP3: 788
and if you have spare option calls, leave them as runners, as the final TP4 is 864.
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Fantastic insights, we have the same bullish views. Do check out our analysis at
vudoo007
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next week's going to be incredibly ugly, I'd be surprised if it rallied
jrod8048
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@vudoo007, I won't expect to rally this week heading to Federal Chairman Committee, this is a 2-4 week development, i be surprised if it does rally this week.
vudoo007
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@jrod8048, looks like we hit the stop. I watched the momentum and traded puts today. I do expect a huge rip before a larger move downward. Good luck to you!
jrod8048
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@vudoo007, not yet, the RSI is still lower high with upward momentum build up, it's a very challenging environment to be in
vudoo007
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@jrod8048, sorry about that I misread where the stop was. I see now that it's 609.