TSLA - making it to the next supercharger, or running out?

2024年8月17日

TSLA has been in a downtrend the last month or so. It has developed a descending broadening wedge pattern on the 4H, which is a bullish pattern. This indicates a break to the upside. However, I am a little hesitant to whether price action is strong enough. The recent build up towards the upper band of the channel has been bumpy, and the 100 EMA is on the rise vs the 50. RSI has been on the rise but is showing signs of turning down. It seems to me the move up is fragile. Looks a little better on the daily, price action is stronger, MACD is about to cross positive. At the end of the day, I believe this will come down to how the market behaves. I feel TSLA does not have the strength by itself to move up, so it needs the market to push it. If the market does not, I think TSLA will suffer and be pushed down. Conclusion: I think the market will take a breather, after a strong run following the Japanese breakdown. The market has been rallying since, and I think the weekend has cooled people down. So I expect a slower Monday, and that will hurt TSLA in my opinion. So I end up on the bear side of things, and will set my target for TSLA at $182, which is the low of the last month.

2024年8月23日

交易進行

TSLA did break up through the channel, which I said might happen, assisted by a positive sentiment in the market in general and especially Jackson Hole today. Yesterday it touched the channel from the upside only to bounce up. This could be seen as a new support has been established, however 1 touch is a little thin to base this on. On the daily however, TSLA might be showing a bear flag as pointed out in an idea by TradeStation. We will have to see how the stock develops the coming days and weeks. Trade active.

2024年9月12日

註釋

TSLA seems to be consolidating, both on the 4H and the daily, with no clear indications up or down. Price is running into some resistance from December last year, which could prove to hold, however I don’t feel this is very strong. Keeping my trade active, watching how it develops. Still a month until earnings.

2024年9月26日

手動結束交易

Seems price will keep ticking up, so will close this and keep watching for new entries.