TheTrendLineInvestor

Who Made $195 So Important ???

NASDAQ:TSLA   TESLA INC
I was actually glancing at a 60 minute chart when I realized the $195.50 ish             level on the chart. I chose to share a Daily chart instead.

Back in December TSLA             hit the $195ish level. Again in January. Again in February. And now again in March. Since December, when TSLA             came down to the $195ish level, it managed to go higher pretty quickly.

Will TSLA             perform this time like it has in the past? Or will it break lower from here? Your guess is as good as mine...

March 18 Update - The Dance Continues
TSLA             is still dancing around this $195 level. There was one day, a few days back, where it looked like TSLA             was breaking to the downside. But the next day it gapped back up. Don't be impatient. If you are waiting for a break one way or the other then look for confirmation in that direction. It may not be a good idea to jump the gun on this stock at this time.

Since my original post of this idea, Elon Musk             announced a press conference for tomorrow. There is no telling what this new information will do for the stock. Longs or Shorts could benefit...
Triangles are a sound methodology however a momo is a mofo...
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I agree that momo stocks can be very tricky. Thanks for your comment.
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nice post, I feel way more confident about my directional decision now
+2 Reply
Thanks for the compliment and the +1.
+2 Reply
I see it as a descending triangle. The more 195 gets tested, the better chance of it breaking the next time
+1 Reply
Nice observation...
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