We are looking more deeply into Tesla's technical potential after its very aggressive (and continuous) rise since October. We were among the first to enter this rise early at 205.50 posting that trade back in May 2019:
Needless to say we didn't expect it to rise that strongly on such a short period of time. This is a parabolic move on the 1W chart which turned even this very long term time frame overbought (RSI = 89.001, ADX = 75.689, MACD = 75.910).
In our attempt to find pointers and a comparision framework to move into projections of the future price movement we went back to 2013 during TSLA's first expansion phase. See how similar the two parabolic sequences are. Both were preceded by 850 - 900 days of accumulation with a clear Resistance level (illustrated by the orange zone) and when this level broke, the parabolic rise started.
Based on the above comparison, if the principles stay the same on the current parabola (so far the same parameters are followed), we see no reason why Tesla can't repeat and complete a full +630% rise. Our Target Zone is 1,200 - 1,270.
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
Needless to say we didn't expect it to rise that strongly on such a short period of time. This is a parabolic move on the 1W chart which turned even this very long term time frame overbought (RSI = 89.001, ADX = 75.689, MACD = 75.910).
In our attempt to find pointers and a comparision framework to move into projections of the future price movement we went back to 2013 during TSLA's first expansion phase. See how similar the two parabolic sequences are. Both were preceded by 850 - 900 days of accumulation with a clear Resistance level (illustrated by the orange zone) and when this level broke, the parabolic rise started.
Based on the above comparison, if the principles stay the same on the current parabola (so far the same parameters are followed), we see no reason why Tesla can't repeat and complete a full +630% rise. Our Target Zone is 1,200 - 1,270.
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
I trade Crypto, Forex, Indices & Commodities all from one account on PrimeXBT with TradingView charts
Register here👉 investingscope.s.gy/PrimeXBT
Contact me for Account Management (+15% monthly profit)
Telegram👉 t.me/investingscope
Register here👉 investingscope.s.gy/PrimeXBT
Contact me for Account Management (+15% monthly profit)
Telegram👉 t.me/investingscope
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
I trade Crypto, Forex, Indices & Commodities all from one account on PrimeXBT with TradingView charts
Register here👉 investingscope.s.gy/PrimeXBT
Contact me for Account Management (+15% monthly profit)
Telegram👉 t.me/investingscope
Register here👉 investingscope.s.gy/PrimeXBT
Contact me for Account Management (+15% monthly profit)
Telegram👉 t.me/investingscope
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.