Deftsuo

Cup and Handle pattern forming on TSLA, could rally higher.

Long
NASDAQ:TSLA   TESLA INC
TSLA is forming what appears to be a Cup and Handle formation, and looks primed to continue upward. Once the 248 or so level breaks, we should see a nice move up to the range around the 200 day moving average in Red, which also coincides with a gap in the price action around 257.50.

-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.

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Comment: Here's a bit of a cleaner view. Filling the price gap around 257.50 would be about a 4.30% gain, while tagging the 200 day MA in Red would be about a 7% gain:
Comment: Cup and Handle setup has been invalidated. Tagged 100 EMA on the Daily:
Trade closed manually: Getting nuked hard; broke below a ton of daily moving averages:

Comments

Tagged 100 EMA on the Daily, means is that support point?
will it go up next week?
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Deftsuo yamarane
@yamarane, So long as it holds above it's moving averages, I think it still looks good. It will move with the broader market, so if everything else is dropping, it will as well. News headlines tend to swing the market pretty rapidly in this environment with trade tensions and what not, so can be difficult to say with confidence what will happen as one good or bad news story can impact the market massively.
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