The performance of the Tesla stock (TSLA) amazes me day by day and regardless of the overpriced value I'm still bullish about this paper. We might see a breakout from this triangle that could create a new uptrend.
Would like to hear others ideas regarding this stock. ~ Cheers!
To make this formation a flag, price has to retrieve back to 800-815 area. That’s where entering position has better risk/reward ratio. Your current stop loss would kick in at that level and one would miss out on the upside move to 900-1000 area
Otradehouse
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@Otradehouse, I don’t see price scale well enough on your chart. Looks like your stop loss is just below 800. It could be low enough. Great analysis.
pietchkietch
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@Otradehouse, Thanks for your comment! I need to improve my analysis over time. It is true that the formation hasn't been formed fully as a flag I agree that the price has to get lower first. Thanks for sharing your thoughts. Appreciated!