Tesla forming an ascending triangle on the daily. Bit of a confusing chart as it's mostly a bullish formation but also a trend continuation patter, and pattern is forming off a long sell off period.
Critically the break out area looks to be forming around earnings, though I'm not sure what that's a factor. They've already released delivery numbers and so we can extract a good revenue estimate from that.
Critical areas of break out are above $720-760 area, we're heading into fib retracement 618 level, as well as an area of note on the VPVR indicator. This breaking this price level is critical, if we do not a retest of 700s will give Tesla another shot at breaking that barrier.
Too early to tell but my assessment so far is probability of breakout above $800s very likely within the month. However we're going to be range bound below 900s unless some surprising news occurs, either from the company itself or outside like Biden passing the infrastructure bill.
First time using this feature, not sure why it's showing another panel, if anyone knows how to change that please lemme know. Only focusing on upper one this is how it's meant to be viewed.
Critically the break out area looks to be forming around earnings, though I'm not sure what that's a factor. They've already released delivery numbers and so we can extract a good revenue estimate from that.
Critical areas of break out are above $720-760 area, we're heading into fib retracement 618 level, as well as an area of note on the VPVR indicator. This breaking this price level is critical, if we do not a retest of 700s will give Tesla another shot at breaking that barrier.
Too early to tell but my assessment so far is probability of breakout above $800s very likely within the month. However we're going to be range bound below 900s unless some surprising news occurs, either from the company itself or outside like Biden passing the infrastructure bill.
First time using this feature, not sure why it's showing another panel, if anyone knows how to change that please lemme know. Only focusing on upper one this is how it's meant to be viewed.