Tesla - Cup and Handle

20 Ağu

Well it's been a long and slow process for Tesla to get to this point and with so many problems and so much potential it doesn't take much to keep investors interested. Though for everyone buying, somebody is selling. So as October nears with the Robo-Taxi reveal, even though a true and perfected version of the FSD Technology may be 3 years away for these to be road tested and verified we can have hope and a little excitement for the Journey. As well Elon Musk does like to pull a rabbit out of his sleeve once in a while and it certainly has been a while. We shall see. In the meantime however the chart is showing a massive Cup and Handle Pattern with a recent breakout and closing in now for a potential retest at $260 and a long term target price at $328. Is the target for this year or perhaps next year, that I can't answer for you but I'm going along for the ride.

3 Eyl

Not

In this series of Charts, the 4,2 and 1 hour Charts, are still supporting upward momentum for Tesla. Although the ADX at this point is not overly strong the ribbon of EMA's is showing a lot of strength as the 7 day EMA has crossed through almost all in each time frame and as long as the candles remain above the 7 day EMA the trend will remain intact.

24 Eyl

Not

Well it's about time I updated this Analysis, this time with a Look at the Long Term Trend on the weekly Chart and what the Potential Breakout could mean if it comes to fruition over the next couple of weeks. Before you look at this new chart however I'd like to again draw your attention to the original chart posted here with the Cup and Handle formation along with Andrew's Pitchfork and if you updated the chart with the arrow above you'll notice how each of the candles over the past 4 weeks have respected the bottom trendline or Support of Andrew's Pitchfork. Anyway the new chart is self explanatory with my annotated notes.

10 Kas

İşlem aktif

Once again I haven't commented for quite some time, rather to just let the chart playout as originally directed. Although it wasn't the direct path as shown through Andrew's Pitchfork, the Cup and Handle Pattern had the definitive signs with it's breakout and subsequent retest of that line for support at $209 as well as testing for both resistance and support on a couple of occasions at $259 before it's recent run up to $328.71 where I had Predicted it would go on August 19th. I was only out by .57 cents on my estimate from 11 weeks earlier. This Pattern is now concluded and at some point in the near future will re-evaluate Tesla's Potential move.

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