timwest
Long

Tesla Motors - TSLA - DAILY - Major upside potential

NASDAQ:TSLA   TESLA INC
487 17 8
Very important news was reported here along with earnings: In the conference call after earnings , Elon Musk             said 'there is no problem with demand for the Model-X', the next generation gull-wing SUV electric vehicle. Imagine that problem: Tesla             is "supply constrained" and not "demand constrained". Investors will continue to awaken to the potential of Tesla             and short-sellers will slowly have fewer and fewer reasons to stay short shares, then the stock ought to steadily grind higher relative to the industry and the overall market.

Earlier this week, given the weak overall market environment, I was suggesting to buy dips in TSLA             to 230. However, the market continued lower and TSLA             has ground slowly higher, tacking on 1% roughly each day. The relative strength is SO OUTSTANDING that in hindsight it may be the biggest signal we will ever see in any stock chart. Now the last four days trading range are ROCK SOLID SUPPORT for a long time. I will make a new chart if TSLA             breaks key support.

This is very likely the beginning of a long and steady ride higher in TSLA             to the 300-400 level and a market cap of $35-$40 billion.

Tim 243.82 last (it was 241 as I began putting this chart together).
Subscribe to my indicator package KEY HIDDEN LEVELS $20/mo or a discount for a year and join in the trading room KEY HIDDEN LEVELS here at TradingView.com
indeed, i remember your statement about weak market...but are you yourself in it? I got in today when i heard the news about china trademark issue being cleared.
Reply
I got back in too :)
Pretty unfortunate to be caught on trailing stop loss at 221 last week on pre market when I don't intend to sell at all.
Reply
timwest PRO LastBattle
So sorry to hear that! Ughh.. That is terrible. I think you can set your stop to not be triggered outside of RTH (Regular Trading Hours).
+2 Reply
LastBattle timwest
Learned my lesson :) I've turned off the trigger outside RTH.
Reply
timwest PRO LastBattle
LastBattle: Over the long haul have you done well leaving in stop orders to get you out of positions?
Reply
LastBattle timwest
Yes. Stop loss order got me out at $256 (march 2014 peak) with 16k profit. (was bought at 160 level during the car fire panic)
Afterwards its a continuous shorting at 220 level and 180~190 as a buy back price until May when I'm out of the stock market briefly on the instability for cover in gold/Bitcoin.

I only got back in this month after seeing the upside potential following the quarterly announcement. (Eg: FB, MSFT, Tesla, TWTR)
Reply
2use LastBattle
Are you invested in those as well? Whats TSLA total portfolio value?
Reply
Yeah, those too. My TSLA portfolio are usually at the 20~40k range.
Reply
2use LastBattle
I mean % wise, as it seems that you may have a huge allocation on it...or are a millionaire ?)
Reply
I am in. I had looked for 230-233 to enter, but those prices didn't happen. Yes, the China trademark news is positive. More importantly, as investors process the news about Model-X, earnings estimates will slowly move up and the stock will have the necessary fundamentals in view to support the valuation.
+1 Reply
2use timwest
ER reaction was low indeed, look at GRPN -18%, WPRT -10%, FB 5%, LNKD, But GOOG and TSLA got cold eye
Reply
Great analysis. $240 was an area to overcome and the stock did just that today. This morning before the market opened I noted that +DMI is also above -DMI and the ADX is beginning to trend upwards. Good news and technicals in mind, as you have stated Tim, this could be the beginning of a larger trending move higher in favor of the bulls. Time will tell.
TSLA Struggles at $240
+1 Reply
2use Syncubate
Thanx for the analysis, good to know!
+1 Reply
LastBattle Syncubate
Stock upgrade and China trademark came in time at a critical resistance ..
Reply
2use LastBattle
Markets can still take it down
Reply
Aren't you worried about the falling volume overtime. Also, don't you think that the NHTSA may want to investigate the drive train failure.
Reply
Thanks, I follow your recommendations and charts closely and you are a true master at this. I have learned a great deal from your teachings and I look forward to fine tuning my charting skills. I am surprised that you are not invested in TESLA based on your recommendations. Is something holding you back?

I see your comments all dealt with the positives aspects of the recent conference call and not the negatives. Ignoring the fundamentals (e.g. evaluation) and relying completely on the positive side of the conference calls may be dangerous. On the negative side of the argument, TESLA finally fessed up on the drive train issues which have been going on for a while as reported by Edmunds and ignored by all news outlets and TESLA. With the GM recall fresh in the minds ofd the regulators, it is prudent that the NTHSA plays a more proactive roll; there may be some news on this front soon. But based on the history of the TESLA stock movements is seems even bad news move the stock up! So go figure!
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out