TSLA has had a long down trend from macro factors including China , a recession as well as a unique
situation tying it to Twitter and Musk liquidating large blocks of stock.
From the technical side of things a recent triple bottom has evolved to a flat top triangle pattern.
Both of these are bullish suggesting a reversal is real. The setup is for a breakout above
the flat top ( black line drawn on the chart) I will add TSLA back to the waitlist and watch
it also with a small position in leverged TSLL. Once it is above the breakout level of 124.75
call options with 2 weeks expiration strike of 130 will be entertained.
situation tying it to Twitter and Musk liquidating large blocks of stock.
From the technical side of things a recent triple bottom has evolved to a flat top triangle pattern.
Both of these are bullish suggesting a reversal is real. The setup is for a breakout above
the flat top ( black line drawn on the chart) I will add TSLA back to the waitlist and watch
it also with a small position in leverged TSLL. Once it is above the breakout level of 124.75
call options with 2 weeks expiration strike of 130 will be entertained.
Trade active:
Call options went up 27% overnight so I will take profit on one out of ten and hold the rest for the long weekend.
Trade active:
Nice pop this morning up over 57% during this late start to the week. Taking some off to get some AMC calls in case a moonshot is lifting off.
Trade active:
Consistent with the idea, TSLA broke through the flat top triangle as sellers got exhausted trying to push it down watching for the call options to continue the uptrend for the rest of the week.