$TSLA Giant Wedging Pattern (VCP)

3 gün önce

TSLA is in a giant 7 month wedging pattern. It can be seen as a VCP (Volatility Contraction Pattern) as well. These types of patterns can break either way. However, in this case we have a rising 50 DMA (red). That suggests to me that this will break to the upside.

I already have a small position in TSLA and I will look to add if or when it breaks above the 50 DMA and again if or when it breaks above the upper downtrend line. If it breaks the lower line, I am out.

Be aware that Tesla reports earnings in 7 days, Wednesday, July 23rd, after the bell.

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TSLA As I pointed out above, I have added to my position and now have a full size lot as it has retaken the 50 DMA (red). I still plan on adding more if / when it can break the downtrend line. (TBD). My stop on todays add will be just below the LOD.