Tesla is a stock that has very big swings up and down, forming a ranges over a long period of time, each time the stock breaks through a KEY LEVEL in the market, it puts a retracement and creates a new range.
In April TESLA INC broke through the 250 level (Bottom range of the channel) potentially looking to create another rage.
Traders can look to take advantage of this by selling retracement back up towards 275 - 315 targeting 180 levels allowing your stops to be above the highs at 390-400 levels
When a stock moves side ways or in a range the best tool to have is the FIB RETRACEMENT (between 50%-60% retracement) to get back in to a trade
In April TESLA INC broke through the 250 level (Bottom range of the channel) potentially looking to create another rage.
Traders can look to take advantage of this by selling retracement back up towards 275 - 315 targeting 180 levels allowing your stops to be above the highs at 390-400 levels
When a stock moves side ways or in a range the best tool to have is the FIB RETRACEMENT (between 50%-60% retracement) to get back in to a trade
