TSLA is an interesting stock right now. The trend is largely up and I also expect crude oil to go up soon, with GBPUSD and other correlated pairs, so this could favor a rally here. Earnings shock might wreak havoc though, so to be safe I'd wait for the shock event to go long or short. Keep close watch of the key hidden levels indicators s/r levels, and the time at mode targets for uptrend signals that could fire doing earnings. Here's when the key hidden levels and the vix post spike 75% retrace levels could come in handy!
The two targets above could become reversal levels as well. In my opinion a sharp move down before a multi week rally is in order, and would offer a terrific buying opportunity, and TSLA would be a good individual stock to go long with, other than S&P500 futures. (looking at the support area in the monthly chart, around 2020-2040)
I guess options strategists could use the levels on chart as useful prices for selling puts/calls and getting exercised at the ideal level for a reversal. You could also trade the reaction buying or selling stock directly (which is what I'd do). Good luck, and stay vigilant. Better be safe than sorry with this kind of trade. Ivan.
We crossed below the daily mode, this is bearish, also we now have a bearish time at mode signal aiming for 243 give or take.
If earnings are bad, this might push price even lower.
I entered a small short today, stop above the mode. Targetting the key level at 230.
IvanLabrie
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Target for this decline on chart.
It matches the 230 key level and the 253 EMA zone.
Might be interesting to monitor this stock. I think that as long as oil falls, it'll most likely continue to head lower.
We'll know soon enough.
IvanLabrie
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There's still more downside left it seems.
I'd stay out and wait for clarity to go long again.
The key hidden levels might turn into support, the one at 230 in particular. If hit it might be worth a try with 1 atr stop.
IvanLabrie
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Went long today, small risk, stop at 266.66.
Price formed a higher mode in the daily, and it moved and closed above it. We also have more than 5 days without a new low.
Target is 357, roughly but I don't have a limit sell order. I'll let it sit if I'm not stopped, trade can last a couple months if all goes well.
IvanLabrie
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We might cross below the mode during earnings it seems.
I'm entering a long at 230, SL 205.55, tp 411.
IvanLabrie
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https://www.tradingview.com/x/f9SgPx2E/
205.55 marks the invalidation level for longs in TSLA.
If we see a dip into the 230 key level I'll go long.
An earnings shock would come in handy.
IvanLabrie
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Price closed with a higher low than the mode.
Confirms a 19 bar uptrend, but it's dangerous to go long now.
IvanLabrie
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Something like this should work if we get a retrace in the S&P and this stock.
3 atr stop.
ChimbOt
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i think its a short
IvanLabrie
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Everyone does, I'm not so sure, we'll see. I'll trade the earnings reaction.
We crossed below the daily mode, this is bearish, also we now have a bearish time at mode signal aiming for 243 give or take.
If earnings are bad, this might push price even lower.
I entered a small short today, stop above the mode. Targetting the key level at 230.