That was truly the best and most accurate technical analysis I have seen. :smile:It closed above the Bollinger band, which is rare as heck. So, it will probably go down tomorrow... unless it doesn't. If it "confirms" tomorrow by heading up again that would signal a good old fashioned break-out and the sky's the limit (resistance at ATH would be the talk). We have had weeks of consolidation in a narrow range (with one "false" breakout), so it was wanting to break high or low. So, it is breaking out for the ATH or this is another false breakout and we will go back to rangebound.
TL;DR: The stock will go up, down or stay the same. You should be long or short accordingly
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TSLA Technical Analysis
- Thread starter Robert.Boston
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- TSLA
Johan
Ex got M3 in the divorce, waiting for EU Model Y!
I'll take one bottle of snake oil to go, please!
No but seriously I agree it could break out over the next few days since 262 is a Fibonacci level that has been defined quite a while back.
No but seriously I agree it could break out over the next few days since 262 is a Fibonacci level that has been defined quite a while back.
CALGARYARSENAL
Member
I Think we are going to the moon. A Canadian living the American dream. The fast money traders suggest we are in a big-time break out. They have been spot on since 187.00
sahanim
Member
Here's what Im looking at.
We seem to have fallen out of the upward trend over the last couple of days only to barely get back in today. I personally see us going back to the mid 250s over the next week or so. (262 should provide a fair bit of resistance)
If we somehow manage to stay within the trend, sales numbers (on july 3rd?) might be a nice catalyst to bring us to the 280s(marked in red) and start testing the ATH.
Personally I dont see us testing ATH for Q2 sales numbers. I can however see us testing the ATH closer to Model X release
This is my first time sharing my technicals so if there's something glaringly wrong with it please feel free to correct me
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jhm
Well-Known Member
I don't always do technical analysis, but when I do, I do it above the Bollinger band with a little Fibonacci number from a way back.
Looks like clear sailing to $292. This could get interesting.
Stay thirsty, my friends.
Looks like clear sailing to $292. This could get interesting.
Stay thirsty, my friends.
:tongue:
Personally I'm taking austinEV recommendation.
Always wrong
When Short of a Long
(That's what the wife says anyway)
The light volume of the handle stands out. As do the sugar cubes lumped at the bottom of the cup.
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jhm
Well-Known Member
sahanim
Member
Johan
Ex got M3 in the divorce, waiting for EU Model Y!
I'm not hostile at all towards TA and sorry if it came across as unserious. jhm's words just made me relate to that meme.
I'm in the camp where I don't care if there is actual "truth" to TA or not - as long as enough traders believe in it/use it, it becomes self-fulfilling.
For example now it seems 262 is a hard resistance, as suggested by Fibonacci levels since way back. We're likely not going to break through that this week, but all we need now is one small catalyst to spark a break-out.
I'm in the camp where I don't care if there is actual "truth" to TA or not - as long as enough traders believe in it/use it, it becomes self-fulfilling.
For example now it seems 262 is a hard resistance, as suggested by Fibonacci levels since way back. We're likely not going to break through that this week, but all we need now is one small catalyst to spark a break-out.
I think that a lot of us look at TA "seriously" to a degree. The problem with TA is that even it's proponents will tell you they tend to work best looking backwards. If TSLA skyrockets in the next 3 weeks we will say that cup and handle totally predicted it. If it tanks we will say it was a false pattern, no cup really formed, it was really a reverse head and shoulders etc.
Still fun to point out the real patterns when they show up. Bull flag, wedge, cup and handle. But usually there is no clear cut pattern so reading tea leaves should be met with hefty skepticism.
I agree. While I admit to not fully understanding TA it is another piece(s)of information that goes into my trading stock and option decisions. Thanks to all who take the time to post the charts and their interpretations
doggusfluffy
Closed
Exactly and meant to be taken with a grain of salt too. I would like to understand it better myself, warning signals and opportunities alike. It seems like the trading bots are running on TA algorithms too.
roblab
Active Member
As one who knows nothing of short term stock trading, I personally enjoy looking at the charts and wondering how they reflect and predict. All those lines and squiggles must mean something!
But I agree. It looks like the Dragon. I see tail, legs, body, neck and nose. All I need now is for someone to tell me what it means. Then next week some time I will check to see if it did what it was supposed to. 50 - 50 chance, at least.
I love it!
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