TESLA SHORT intraday fibonacci trading $TSLAIntraday trend likely UP
We can take SELL positions at these fibo levels :
N1: 612
N2: 619
N3: 630
DON'T FORGET TO SET STOP LOSS IN CASE OF NO REVERSAL FOR A LONG TIME
Examples of SL and TP :
SL could be @ Fibo level 4 (645)
TP could be @ Fibo level 0 (601)
Again these are just EXAMPLES ; these are the simpliest way to implement SL and TP in this system ; otherwise one could easily improve these by using partial profit taking, SL to breakeven after a certain amount of profit and other money management tactics... Same goes with the SL
Tslashort
TSLA Up or Down?TSLA looks on track to reach around 660.
however, i would question whether it will break above that upper trendline.
WE have a long term reverse wedge on TSLA, which typically is a reversal signal.
If TSLA break its support, expect it to fall further to the 61% FIB level in the coming months.
TESLA SHORT intraday fibonacci trading $TSLAIntraday trend likely UP
We can take SELL positions at these fibo levels :
N1: 608
N2: 623
N3: 648
DON'T FORGET TO SET STOP LOSS IN CASE OF NO REVERSAL FOR A LONG TIME
Examples of SL and TP :
SL could be @ Fibo level 4 (683)
TP could be @ Fibo level 0 (582)
Again these are just EXAMPLES ; these are the simpliest way to implement SL and TP in this system ; otherwise one could easily improve these by using partial profit taking, SL to breakeven after a certain amount of profit and other money management tactics... Same goes with the SL
TESLA SHORT intraday fibonacci trading $TSLAIntraday trend likely UP
We can take SELL positions at these fibo levels :
N1: 600
N2: 615
N3: 638
DON'T FORGET TO SET STOP LOSS IN CASE OF NO REVERSAL FOR A LONG TIME
Examples of SL and TP :
SL could be @ Fibo level 4 (671)
TP could be @ Fibo level 0 (577)
Again these are just EXAMPLES ; these are the simpliest way to implement SL and TP in this system ; otherwise one could easily improve these by using partial profit taking, SL to breakeven after a certain amount of profit and other money management tactics... Same goes with the SL
TSLA short to 500? (PT 5)Well well well... Im sure I cant be the only one who has been loading up on puts since the last spike to the 630s...
I have been bearish on TSLA for awhile now and I personally think this was its last straw... it lost all of its support levels except for this march 2020 trend line that it bounced off of before.
Now yes, it could hold the trend line again and bounce back to above 600s but it is very unlikely at this point...
PT1: 547.82
PT2: 497.99
PT3: 465.90
Overall, for the next two weeks I think we see ~500 daily demand zone where I expect bounce then another leg down to ~465
Linear Regression Outlook:
Just my thoughts, Happy Trading!
TESLA SHORT intraday fibonacci trading $TSLAIntraday trend likely UP
We can take SELL positions at these fibo levels :
N1: 635
N2: 643
N3: 657
DON'T FORGET TO SET STOP LOSS IN CASE OF NO REVERSAL FOR A LONG TIME
Examples of SL and TP :
SL could be @ Fibo level 4 (675)
TP could be @ Fibo level 0 (622)
Again these are just EXAMPLES ; these are the simpliest way to implement SL and TP in this system ; otherwise one could easily improve these by using partial profit taking, SL to breakeven after a certain amount of profit and other money management tactics... Same goes with the SL
NIO make or break?NIO seems to have been following this downward channel for the past three months, volume has been nowhere near what it is was in the past.
A close over 40 would be bullish for me but although I am overall bullish for June... if it can't break and hold over 40 , I will be looking to short NIO back down to ~30.
(VERY BOLD PT: 28.20)
Happy Trading!
Tesla Elliot Wave In Depth AnalysisHello Everyone! I hope you all are having a good day.
this is my TSLA Elliot Wave analysis. I see prices reaching 450 levels or so to finish the final wave 5 down.
NOTE: however, the Wave C prices did reach the .618 level of Wave A, indicating that it can reverse from that level (low of 546). I drew a downtrend line and I believe we will still be in the downtrend until we break that line, indicating a new bullish run up is in the making. I suggest everyone get in at the bottom of wave C, as Tesla will surely pass the ATH at 900 in the future.
Currently, we are in a wave 4 of 5 in my opinion, and will see prices print at around 650 or so before resuming the downtrend.
I have labeled key areas in the chart. I would wait to see what happens next week and wait to see if prices can reach the 650 target (0.5 retracement)
TESLA SHORT intraday fibonacci trading $TSLAIntraday trend likely UP
We can take SELL positions at these fibo levels :
N1: 626
N2: 641
N3: 665
DON'T FORGET TO SET STOP LOSS IN CASE OF NO REVERSAL FOR A LONG TIME
Examples of SL and TP :
SL could be @ Fibo level 4 (699)
TP could be @ Fibo level 0 (601)
Again these are just EXAMPLES ; these are the simpliest way to implement SL and TP in this system ; otherwise one could easily improve these by using partial profit taking, SL to breakeven after a certain amount of profit and other money management tactics... Same goes with the SL
TESLA (TSLA) short opportunityThis is probably going to be an unpopular opinion but I believe the Tesla stock is a bubble built on hype. From a fundamental perspective, up until this last year, Tesla has been losing money since it started. While the profits were pretty good, the larger, more equipped auto manufacturers are making EV's a priority which is going to eat in to Tesla's market share. Overall, I think this stock is incredibly overvalued...by like 5x. Additionally, there are better valued EV manufacturers out there with a more positive upside like NIO.
As for the chart...there was a really strong bull run with no real cooling off period. We reached the top where it tried to form a pennant. Normally, i see this as a strong bullish indicator however, price fell through the lower side telling me the sellers are taking control of the market. I'm looking for price to recover up slightly, probably around $700 or so, then continue the sell off down to the mid $400's.
When Michael Burry put on a $560M put option position short TSLAWe learned in the news today thanks to a 13F filing that Michael Burry of 'Big Short' movie fame placed a huge short postion in Tesla somewhere between Dec 31 and March 31.
Hed did reveal in a tweet that he was short in early December, presumably with a smaller position
"So, @elonmusk, yes, I'm short $TSLA, but some free advice for a good guy ... Seriously, issue 25-50% of your shares at the current ridiculous price. That's not dilution," Burry tweeted.
Interestingly the TSLA share price is sitting right around the level of his first tweet and near the 2021 YTD low
TESLA TO FALL TO 400 very soon. Technical Analysis on WHY TESLA will continue falling to the market price of 400 before rising again.
Rationale for the Drop
1. Fibonacci expansion levels have reached and surpassed exhaustion levels at 4.236 for quite some time.
2. Double Top created
3. Pennant/rising wedge with a flagpole is forming
4. Monthly Chart RSI indicates that this stock has been OVERBOUGHT to the MAX!
Rationale for the Rise at 400.00
1. When doing a new Fibonacci Retracement downwards from the market price of 893.00 to 540.00 the retracement level of the Fibonacci Golden Zone of 0.618 is sitting at structure level at the market price of 760.00
2. When you follow up with applying the Fibonacci Expansion from the market price of 893.00 to 540.00 you safe Fibbonacci Take Profit Level for a SELL/SHORT Position is sitting on 400.00 which is also on Fibonacci Expansion Level of 1.
3. When you do a new Fibonacci retracement from the market price of 40.00 to 893.00 Golden Zone Fibonacci Level of 0.618 is also sitting on 400.00
To conclude, I would prepare to sell my existing Tesla stock when the market price reaches 760.00 and look for buy positions when market reaches 400.00.
TSLA - Elliott Wave Analysis - CorrectionHi All,
I'm a long term Tesla Bull, but bearish short term, the price action suggest short term bearish price action.
Reasons
- No Catalyst until July Delivery Numbers
- No S/X Deliveries yet
- Nasdaq still in correction mode and has a room to come down, pressure on tech/growth stocks.
- Elon's tweets about FSD subscription(impacts financials) and FSD V9 release dates(impacts no financials on short term, helps perception which is good) are still in the air with no factual date of release.
- Elon's sudden move on BTC adoption, then again sudden reaction on it's rejection, creates only confusion and markets don't like it, but this will have only short term ~1 day impact on trading.
PS: This is just my opinion based on price action and macro level economics. Please be careful picking your trades.
TSLA short to 500TSLA falling out of massive bear flag on the daily
Seems to be on the C wave of the ABC correction
Short term bounce may occur off of 1D demand around $615-600 but I don't see this holding for too long
I would love to see a retest of old September highs at 505!
Current Positions:
6/18 500p, 5/21- 620p (small position due to trimming profits from the recent run up to 685)
Tesla - Bearish bear flagIn contrary to my other post which pointed out a bullish pennant, there is also a bear flag forming on the daily chart. This does not look good for bulls since if there is a break below the flag, it may turn nasty. Hence, it is better wait out before impulsively buying solely on the bullish pennant.
Note: Not financial advice. I bring the evidence, you be the judge and jury (always do your own research).
Tesla - Bullish Consolidating Triangle/Pennant on DailyA bullish pattern is forming on the daily chart for Tesla, which is known to be a consolidating triangle/pennant. As we all know, TA is all about the price patterns repeating themselves. This can be a clear example of that. As you can see on the left, in 2020 we saw a clear consolidating triangle forming around $400-$500 range, and soon after, it broke out above towards $800+. Now, a similar pattern is forming, suggesting a move to the upside. The only problem is, pennants can also go the other way, so there is a slight chance that Tesla may drop. Additionally, we must be wary of the bear flag that is also forming on the 4-hour chart. A break below could see fresh lows. So it is worth to wait and see as there are a lot conflicting indicators at the moment. Long term, the chart looks bullish but on the other side, the bear flag (see other post) is immensely concerning.
Note: Not financial advice. I bring the evidence, you be the judge and jury (always do your own DD).