TSLA Technical Analysis

[3Victoria]

I am a complete neophyte to TA. However, I can now recognize triangles, and they certainly look like a damped ringing pattern. I am just not sure how one interprets what happens at the end of the ringing. I guess that depends on which the two forces creating the ringing wins out.

 

[geneclean55]

It these kind of irrational moves that help squeeze the market higher.
Everyone who shorted SPY this morning is now under water which will probably help squeeze the market higher in the next few days.

Futures just jumped. Lol

 

[AlMc]

Futures just jumped. Lol

Nothing to do with technicals,,,,,

Senate passes a budget, moving the GOP closer to tax reform

 

[geneclean55]

My original comment had nothing to do with technicals either.
Fact is. If SPY gaps up tmrw. The sentiment shorts from this will morning will cover and help squeeze up.

 

[Lump]

10-19-2017

 

[AlMc]

My original comment had nothing to do with technicals either.
Fact is. If SPY gaps up tmrw. The sentiment shorts from this will morning will cover and help squeeze up.

Sorry, not trying to be snippy (guess it came off that way). You posted in the TA thread so I mistakenly assumed you thought it may be a technical move.

 

[geneclean55]

No worries.
I thought some people were retreating to here after the revolt on the market action thread

 

[D-egg-O]

Sorry, not trying to be snippy (guess it came off that way). You posted in the TA thread so I mistakenly assumed you thought it may be a technical move.

No worries.
I thought some people were retreating to here after the revolt on the market action thread

I SO sincerely appreciate this gentlemen.

 

[GoTslaGo]

No worries.
I thought some people were retreating to here after the revolt on the market action thread

Obviously my recollections are spotty.

But IIRC, the last time there was such a level of Bull v. Bull turmoil (in what was then the “Short term thread”) it was around the market low of 145s in Feb ‘16. Similar basis of TA vs. Fundamentals and everyone talking past each other—this was the key, everyone talking past each other and getting pissed off at each other.

Does that imply that 350 is the new 145? (I wish...)

 

[D-egg-O]

One can dream.

 

[austinEV]

Would you mind sharing your technical analysis experience? Have you worked at a professional firm in this capacity?

Also - thoughts on June through October triangle?

Yeah I have seen people noting there is also a longer term ascending triangle June to Oct.

Just an enthusiast with eyes that work.

A triangle isn't magic, astrology. It means that the lows are getting higher. Traders are afraid of missing out on...something. The top sells off because there is a pattern of that being the top... so you sell. Either it breaks below, and suddenly thee is no FOMO and you have additional people bail and it breaks down, or it breaks up and people on the sideline who have been conditioned to buy above 360 in a break out pile on.

It's psychology in chart form. And the markets are about psychology in the short term, fundamentals in the long term.

 

[bdy0627]

Yeah I have seen people noting there is also a longer term ascending triangle June to Oct.

Just an enthusiast with eyes that work.

A triangle isn't magic, astrology. It means that the lows are getting higher. Traders are afraid of missing out on...something. The top sells off because there is a pattern of that being the top... so you sell. Either it breaks below, and suddenly thee is no FOMO and you have additional people bail and it breaks down, or it breaks up and people on the sideline who have been conditioned to buy above 360 in a break out pile on.

It's psychology in chart form. And the markets are about psychology in the short term, fundamentals in the long term.

Great explanation!

 

[austinEV]

Ugh. Supports broken everywhere. Lower lows than yesterday. Triangle looks done.

 

[D-egg-O]

Oh well... lotto is not going to pan out. Hence why they are lottos.

 

[zdriver]

Looks like a clean bounce off the weekly S1:

From:
Jeff York, PPT ‏ @Pivotal_Pivots
$TSLA Professional swing traders use Weekly Pivot Points to show them where to add & reduce risk. #TradethePivots


I use thinkorswim's built in pivot point study, as well as this site - TSLA pivot point - support resistance - pivots -

 

[ZenMan]

From Option Sniper:

$tsla monthly chart 5ma turning flat. also, falling back to triangle consolidation on weekly. likely retest triangle bottom 337 before b/o

 

[geneclean55]

TSLA breaks the "higher low" pattern on the daily. Loses middle BB support on the weekly.
"Timely news" comes out over the weekend after monthly expiration Friday.
Let the games commence...(continue)

 

[neroden]

Well, heh, this sort of trading is what I was originally (last year) expecting this month... but I was originally expecting it down at the $240-$250 level. Everyone hold on tight -- it gets interesting near the end of the year, when Model 3 starts being distributed in quantity...

 

[kenliles]

as a long term investor only (common and DITM LEAPS), I don't indulge in TA much. But I will use 1 year trend and support against impending events to determine best time for adding or leveraging more. Here's current for 1 year:
Orange is Simple Moving Average (SMA)
Red is closing snap line trend (why I recently have been converting common to DITM LEAPS in the 330-350 range)
Bottom Green is cumulative Money Flow (MF)
[and Note Earnings Reports]
for what it's worth

 

[Fallenone]

as a long term investor only (common and DITM LEAPS), I don't indulge in TA much. But I will use 1 year trend and support against impending events to determine best time for adding or leveraging more. Here's current for 1 year:
Orange is Simple Moving Average (SMA)
Red is closing snap line trend (why I recently have been converting common to DITM LEAPS in the 330-350 range)
Bottom Green is cumulative Money Flow (MF)
[and Note Earnings Reports]
for what it's worth
View attachment 255656

No offense but drawing a one year trend that does nothing with anything happened in the past 9 months does not make sense.