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🟢 Chart Pattern: Symmetrical Triangle Breakout
Price is breaking out of a tight triangle, indicating potential momentum buildup. Volume spike confirmation would strengthen the move.
🛒 Entry: Around $322.05 (breakout zone)
🎯 Target Levels (Upside):
TP1: $327.38 (minor resistance)
TP2: $333.72
TP3: $339.71 (strong resistance zone from early June)
🛑 Stop-Loss:
Below $317.30 (triangle base support and recent consolidation low)
This gives a risk/reward ratio of approx. 1:2.5, which is solid.
🧠 Why This Setup Makes Sense:
TSLA is moving ahead of the June 22 robotaxi event
Strong support trendline from June 6
Breakout is aligning with bullish sentiment and upcoming catalyst
Market is bullish overall, helping large-cap tech
⚠️ What to Watch:
Watch for fake breakouts — wait for candle close or volume confirmation
Be ready for volatility as event news can cause whipsaw action
Option traders: Consider bull call spreads if IV is high
🟢 Chart Pattern: Symmetrical Triangle Breakout
Price is breaking out of a tight triangle, indicating potential momentum buildup. Volume spike confirmation would strengthen the move.
🛒 Entry: Around $322.05 (breakout zone)
🎯 Target Levels (Upside):
TP1: $327.38 (minor resistance)
TP2: $333.72
TP3: $339.71 (strong resistance zone from early June)
🛑 Stop-Loss:
Below $317.30 (triangle base support and recent consolidation low)
This gives a risk/reward ratio of approx. 1:2.5, which is solid.
🧠 Why This Setup Makes Sense:
TSLA is moving ahead of the June 22 robotaxi event
Strong support trendline from June 6
Breakout is aligning with bullish sentiment and upcoming catalyst
Market is bullish overall, helping large-cap tech
⚠️ What to Watch:
Watch for fake breakouts — wait for candle close or volume confirmation
Be ready for volatility as event news can cause whipsaw action
Option traders: Consider bull call spreads if IV is high
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.