Long

Tesla reverse head and shoulders to hit target of $770-$800

Tesla is looking to make a reverse head and shoulders pattern which could brake upwards to 770-800 in the coming days (perhaps on 5 or 8 March). The House recently passed the stimulus of $1400 and is looking to be passed by the senate this weekend if everything goes well and is then signed by president Biden before 14th March which is when some benefits for Americans could expire. This should cause the entire market to go up and continue a bullrun up until late April and probably lose some steam by mid April where I predict could be the top for the market. Keep an eye on the daily buy signal on the daily chart as it may hit next week. The market droped around this time last year aswell because of the increased yields on government bonds and the increased worry of inflation which means more bought them and sold of stocks. From historical data March and April are the 3rd and 2nd best months of the stockmarket on average with Febuary being a weaker month so I would say that if we are not experiencing a start of a new bullrun by mid March we could be seeing a longer consolidation or worse another significant drop in the market.

do not take this for financial advice.

please comment any thoughts you may have.

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