TESLA - Daily Timeframe - Long Opportunity

Following today's news, which sped up the consolidation completing the corrective structure, we believe that NASDAQ:TSLA is now a long term buy.
From this moment on therefore, we will be looking for buy setups. On the minor timeframes, watch out for ending diagonal formations and other price action patterns for an entry point on their break. For a more conservative approach, wait for a first impulse to the upside on the 4hr timeframe, wait for a small correction of said impulse on the 60min timeframe, and buy the break of said correction with a stop loss beneath it.
Updates on smaller timeframes will follow.

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Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.

Thank you for viewing.

Mar 31
Comment: As mentioned in the above analysis, Tesla seems to have reached our buy area - a nice opportunity for a buy and hold on this stock. Now we will monitor this title closely on a smaller timeframe (4hr): if it bounces strongly to the upside from the lower trend line of the corrective structure, and it consolidates with a small flag, we will buy. If, instead, it consolidates with a flag or corrective structure to the upside on the daily and 4hr timeframes, this will be the signal that the stock will drop down further, hence we will wait and see how the structure plays out. In any case, for us, long term, Tesla is a buy.

Apr 26
Apr 27
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