jaxdog

$TSLA Wedge Break?

Long
jaxdog Updated   
NASDAQ:TSLA   Tesla, Inc.
I have been keeping an eye on TSLA as it keeps putting in higher lows. It looks to me that we have a wedge pattern inside a larger wedge pattern. I have started a ½ size position in anticipation of running up to the larger wedge pattern where I would expect more resistance.

In addition, TSLA is now above all shorter-term moving averages and the rising 40 Week MA in white. A close below the 40 Week MA will be my stop area. Let’s see what happens.

Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
Comment:
Have been adding to this through out the day. Seems to be moving on Cyber Truck news. See Chart for adds.
Comment:
We are 10 minutes into the day and already up against the larger wedge downtrend line. I may be taking some profits soon and holding a small position... TBD.
Comment:
15 minutes in and it's jumping all over. took 1/2 off. I'd like to add back. TBD.
Trade closed manually:
I've closed the whole position on Fed Speak going on right now. I have a nice profit and will look for a re-entry when it presents itself.
Comment:
Day trading this now. Back in as MACD crosses up on 5 min.
Comment:
TSLA I have raised my stop to breakeven on this day trade. Hard stop in computer, no need to watch now.
Trade closed: stop reached:
TSLA The stop was hit awhile ago when I was away from my screen. I'm out of this for breakeven on the day trade.
Trade active:
Started a new long position on reversal. I love trading this stock!
Comment:
Raising stop to breakeven and I will continue to raise my stop as price moves higher, if price allows. Nice to have a no risk trade right now.
Trade closed: stop reached:
I had a hard stop in the computer and it just hit. Out for no gain no loss. Choppy day. Back on the watchlist. If / when I trade TSLA again I will make post it as a new idea.

Ideas I publish are my own. These are not meant to be investment / trading advice. You are encouraged to do your own due diligence.

I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.