TSLA: Repeating the pattern for the 3rd time.
Hello traders and investors! We’ve been studying Tesla for a while, and it seems it is repeating its patterns after all! Let’s see what’s going on here.
The recent bullish movement was triggered by a runaway gap, after it hits the support at the blue line around $ 1368 three times. Yesterday we saw a common gap, along with a breakout from a previous resistance zone. When this happens (gap + breakout), the movement is usually very strong next, even if it was a common gap (if it was a runaway gap, the movement could’ve been even better).
Now, this seems familiar, right? Let’s see the daily chart:
Every time we see an accumulation, the next big movement is triggered by a runaway gap, which is followed by a common gap a few days later. Now, if history will repeat itself again, we will see an exhaustion gap before the next accumulation.
Yes, we’ve been discussing this pattern for a while now, and it seems we were right about it. But to be fair, I thought Tesla would get closer to the purple trendline, but the 21 ema did the job.
This shows us that the trend is very strong, and we need to be very careful at trading it. I never recommend shorting a stock that is in a bull trend, and I’ll keep what I’ve been saying here: Pullbacks are just opportunity to buy.
What to expect right now? Well, maybe we will see an exhaustion gap soon, before the next accumulation. Even if it doesn’t appear, sooner or later a pullback will occur, even if it will be in the form of a boring sideways trend.
Then it will be time to buy Tesla again. If you are already in the trade, you are in a good situation, as there’s nothing telling us that the trend is going to change. No bearish sign at all. And would please, support this idea before you leave? Since you made so far, you must’ve found it interesting, right? And I invite you to follow me for more analyses like this!
Recent public trades (links below):
XP: +30%
AAPL: +10%
LB: +45%
UKOIL: +62%
Congratulations to all of you, my dear subs, who believed in my trading methodology, and challenged the world by being a bull! We deserve to celebrate!
BECOME A MEMBER!
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
The recent bullish movement was triggered by a runaway gap, after it hits the support at the blue line around $ 1368 three times. Yesterday we saw a common gap, along with a breakout from a previous resistance zone. When this happens (gap + breakout), the movement is usually very strong next, even if it was a common gap (if it was a runaway gap, the movement could’ve been even better).
Now, this seems familiar, right? Let’s see the daily chart:
Every time we see an accumulation, the next big movement is triggered by a runaway gap, which is followed by a common gap a few days later. Now, if history will repeat itself again, we will see an exhaustion gap before the next accumulation.
Yes, we’ve been discussing this pattern for a while now, and it seems we were right about it. But to be fair, I thought Tesla would get closer to the purple trendline, but the 21 ema did the job.
This shows us that the trend is very strong, and we need to be very careful at trading it. I never recommend shorting a stock that is in a bull trend, and I’ll keep what I’ve been saying here: Pullbacks are just opportunity to buy.
What to expect right now? Well, maybe we will see an exhaustion gap soon, before the next accumulation. Even if it doesn’t appear, sooner or later a pullback will occur, even if it will be in the form of a boring sideways trend.
Then it will be time to buy Tesla again. If you are already in the trade, you are in a good situation, as there’s nothing telling us that the trend is going to change. No bearish sign at all. And would please, support this idea before you leave? Since you made so far, you must’ve found it interesting, right? And I invite you to follow me for more analyses like this!
Recent public trades (links below):
XP: +30%
AAPL: +10%
LB: +45%
UKOIL: +62%
Congratulations to all of you, my dear subs, who believed in my trading methodology, and challenged the world by being a bull! We deserve to celebrate!
BECOME A MEMBER!
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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