@bullbeartrades, This one will be real interesting into tomorrow and next week. Didn't break down completely, but its sitting there. Going to do a daily chart next.
In studying Tesla's price action I think it will break down out of the triangle but not below the 1370 doji tip from July 24th. Just my suspicion. Thanks for the post.
@altinAdam, Thanks for the note! I'll check more after a breakdown on the potential. I was simply looking at the longer term volume weighted price and I see two major volume shelves right now. June 20th as around the tipping point between a $1,000-ish shelf and the $1,500 shelf. I'm sure there are smaller ones in between however.
@sfhenderson17, I get that volume theory holds a lot of truth and if the price breaks down it would be attracted to the next large bar down. I dont have that feature but Im sure 1k is where it is. Your statement it would go there is likely since in reality the runup was twig and thatch. Just depends how much was bought to trade and how much was bought for long term holding I suppose. Alot of the Tesla crowd holds on tight. I guess well find out how strong the hands are soon enough.
Thanks
@altinAdam, If you go to indicators, look for 'visible range'. I have been using that for awhile. It has seemed to help on the upside, then a stock looks overbought, but then consolidates and sits on top of a newly created volume shelf waiting for moving averages to catch up. With TSLA anything can happen and with huge moves over days and weeks, I am taking a flyer on how far it 'could' go.
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Thanks