TSLA: Exit strategies for Tesla [updated]!
Hello traders and investors! How are you today? Let’s study the most recent movements on Tesla.
As I’ve been telling you guys, there’s absolutely no reason to worry here. The trend is bullish and there’s still nothing indicating that it will change.
It is curious to notice that our studies on the volume was right, and Tesla was accumulating during the past few days. A sideways movement with low volume is a characteristic of an accumulation, according to Dow Theory 5th Tenet: “The Volume Must Confirm the Trend”.
Now, Tesla did a breakout from this previous ATH with volume increasing suddenly, so, the momentum continues strong as ever.
As long Tesla continues doing ascending tops and bottoms in the hourly chart, the trend will continue very bullish in the daily chart as well. Speaking of daily chart:
The daily chart is still very bullish, and the volume was quite high today as well.
Now, exit strategies: If I were in Tesla right now, I would just set my exit point under the purple line, which is the previous resistance/top. If Tesla closes under it, just book your profits.
It also almost coincides with our trailing stop technique at the previous candlestick low, meaning you can book you profits tomorrow, if Tesla loses the $ 2,142.50. So, the region at $ 2,127 - $ 2,142.50 is very important for Tesla, and we already discussed about it yesterday. Now we must see if Tesla will keep the price above this level.
If it loses again this line and closes under it, then we will see a sharper pullback. But again, these are just “ifs”, and so far, there’s nothing confirming a pullback. So, no need to panic, ok? Everything here is going according to technical analysis.
And of course, another good exit strategy is to wait for a bearish pivot in the hourly chart. No pivot? No need to book profits! But I believe the $ 2,127 is more important right now, as it was a previous ATH, and now should work as support.
These are nice strategies to use, and I hope this analysis helped. In this case, support this idea, and follow me for more analyses! I do daily analyses, and I’m sure you’ll find something interesting around.
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. *
As I’ve been telling you guys, there’s absolutely no reason to worry here. The trend is bullish and there’s still nothing indicating that it will change.
It is curious to notice that our studies on the volume was right, and Tesla was accumulating during the past few days. A sideways movement with low volume is a characteristic of an accumulation, according to Dow Theory 5th Tenet: “The Volume Must Confirm the Trend”.
Now, Tesla did a breakout from this previous ATH with volume increasing suddenly, so, the momentum continues strong as ever.
As long Tesla continues doing ascending tops and bottoms in the hourly chart, the trend will continue very bullish in the daily chart as well. Speaking of daily chart:
The daily chart is still very bullish, and the volume was quite high today as well.
Now, exit strategies: If I were in Tesla right now, I would just set my exit point under the purple line, which is the previous resistance/top. If Tesla closes under it, just book your profits.
It also almost coincides with our trailing stop technique at the previous candlestick low, meaning you can book you profits tomorrow, if Tesla loses the $ 2,142.50. So, the region at $ 2,127 - $ 2,142.50 is very important for Tesla, and we already discussed about it yesterday. Now we must see if Tesla will keep the price above this level.
If it loses again this line and closes under it, then we will see a sharper pullback. But again, these are just “ifs”, and so far, there’s nothing confirming a pullback. So, no need to panic, ok? Everything here is going according to technical analysis.
And of course, another good exit strategy is to wait for a bearish pivot in the hourly chart. No pivot? No need to book profits! But I believe the $ 2,127 is more important right now, as it was a previous ATH, and now should work as support.
These are nice strategies to use, and I hope this analysis helped. In this case, support this idea, and follow me for more analyses! I do daily analyses, and I’m sure you’ll find something interesting around.
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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