Long

Tesla wyckoff reaccumulation and inverese head and shoulders

Tesla is forming wyckoff reaccumulation and just went above the resistance line from the downwards wedge. We should see the stock going back to all time high now and complete an inverse head and shoulders. To get the price target we take the head which is 1240-900 and get 340 and add that to the neckline which is the ATH of 1240 which gives us 1580. The price target is also a Fibonacci trendline of 100% so it is a conservative target. The price target was also one investment companies target making it very well possible to reach. However you should not trust investment companies but perhaps this analysis still makes sense. My personal target would be to sell around 1540 as we did not reach 1240 but 1200 this recent upptrend.

wyckoff pattern taken from:
twitter.com/TrueCrypto28/status/1388548415819223040

Please do not take this for financial advise. This is only speculation!

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.