For those that missed the "key hidden levels" support zone on Monday to buy against, there is another buy signal today with high probability of a win, but with equal risk to profit potential.
TSLA is in an uptrend as measured by the RgMov (proprietary) indicator and now that earnings are out of the way, a new key level of support is created to allow entries on the long side. The recent price range of the most frequent price (in the current uptrend) allows for a move up to 265 in the next 9 days.
Keep in mind that TSLA tends to trend "AFTER" earnings are reported as new information gets digested and investors can begin to rationalize valuations and make long term adjustments to their forecasts. The market is supporting TSLA here after the last earnings report and the key line is the 10-day mode and the green line to the right of the Green Triangle at 238. I put the stop at 232, roughly 1 ATR below the key level.
Cheers.
Tim 10:04AM EST 11/13/2014 Wednesday 250.31 last
TSLA is in an uptrend as measured by the RgMov (proprietary) indicator and now that earnings are out of the way, a new key level of support is created to allow entries on the long side. The recent price range of the most frequent price (in the current uptrend) allows for a move up to 265 in the next 9 days.
Keep in mind that TSLA tends to trend "AFTER" earnings are reported as new information gets digested and investors can begin to rationalize valuations and make long term adjustments to their forecasts. The market is supporting TSLA here after the last earnings report and the key line is the 10-day mode and the green line to the right of the Green Triangle at 238. I put the stop at 232, roughly 1 ATR below the key level.
Cheers.
Tim 10:04AM EST 11/13/2014 Wednesday 250.31 last
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