Decisions. I remain bullish on TSLA.

ที่อัปเดต:
Greetings Investors,

I'm bullish on TSLA based on the following:

Bullish Factors:

1. Bullish Double Bottom formed on the daily.
2. Support at the 23% FIBO, indicating a strong trend.
3. TSLA is between 20 and 50 EMA - classic demand (buy) zone.
4. TSLA is near the bottom of the Bollinger Bands - a potential entry.
5. Momentum is neutral.
6. Volume decline (with falling price) on the weekly could be interpreted as bullish consolidation.

Bearish Factors:

1. Bearish engulfing candle on the weekly
2. Bearish momentum on the TTM indicator
3. Bearish MACD
4. TSLA could retrace to the 50 EMA at $738, which is around the 38% FIBO level.

Weekly Chart:
สแนปชอต

Strategy:

1. Consider the 850C for 3/19 (risky).
2. Consider the 750P for 3/19 (risky).
3. Consider waiting until 2/19, when the new monthly options cycle commences before opening a new position.

Happy Trading!

Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss.  Loss of principal is possible. Please exercise your own due diligence.



บันทึก
TSLA still holding support at the 23% FIBO level, which is great. I also see a morning star has formed on the 4hr chart below, which could indicate a bullish reversal is in the works, from the recent downtrend. Tomorrow’s candle will either confirm or invalidate this bullish candlestick pattern. Is it time to BUY the DIP??? Time will certainly tell.

4hr Chart: สแนปชอต
บันทึก
TSLA failed support at the 23% FIBO and retraced to the the 38% FIBO support around $715 as shown in the chart. TSLA can retrace all the way to the 61% FIBO ($607) and still classify as a bullish trend. Thus, I'm not ready to call TSLA bearish for the long term trend. I also notice that TSLA closed several gaps today and the distribution of shares (shares selling) is minimal, which means investors aren't dumping the stock.

สแนปชอต
Chart PatternsTrend Analysis

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