Taking a larger look at TSLA's chart, I noticed there may be a massive Cup and Handle pattern emerging.
If this pattern plays out, we could see up to a 60% decline in TSLA in the coming months as the height of the cup is about 30%. I'm not sure how likely a 60% decline is, due to the recent high volume and bullish fundamentals, but only time will tell.
TARGET POINTS
- TP1 | ~900
- TP2 | ~630
Purely educational and not financial advice.
If this pattern plays out, we could see up to a 60% decline in TSLA in the coming months as the height of the cup is about 30%. I'm not sure how likely a 60% decline is, due to the recent high volume and bullish fundamentals, but only time will tell.
TARGET POINTS
- TP1 | ~900
- TP2 | ~630
Purely educational and not financial advice.
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*Inverse Cup and Handle
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TP1 Hit!
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It looks like $850 is somewhat a line - if that support is broken we could see *much* more pain for TSLA in the coming days/weeks of at *least* a drop back down to $800.
The drop after earnings today indicates that earnings were already priced in after deliveries were released. I think supply chain shortages are going to potentially chop TSLAs projected growth for this year.
SHORTER TERM DOWNSIDE TPs
TP1 - $800
TP2 - $760
TP3 - $720
The drop after earnings today indicates that earnings were already priced in after deliveries were released. I think supply chain shortages are going to potentially chop TSLAs projected growth for this year.
SHORTER TERM DOWNSIDE TPs
TP1 - $800
TP2 - $760
TP3 - $720
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SHORTER TERM DOWNSIDE TPs:
TP1 - $800 | HIT!
TP2 - $760 | HIT!
TP3 - $720
TP4 - $700
I hope some of you got in on this - puts printed!
I'm thinking the bottom might be around ~$630 as that would be about a 2x retracement of the inverse cup and handle - only time will tell!
TP1 - $800 | HIT!
TP2 - $760 | HIT!
TP3 - $720
TP4 - $700
I hope some of you got in on this - puts printed!
I'm thinking the bottom might be around ~$630 as that would be about a 2x retracement of the inverse cup and handle - only time will tell!
Bình luận:
I forgot to update this last week, however...
SHORTER TERM DOWNSIDE TPs:
TP1 - $800 | HIT!
TP2 - $760 | HIT!
TP3 - $720 | HIT!
TP4 - $700 | HIT!
I believe we'll be making a lower low in the coming weeks and hit that $630 mark but only time will tell!
SHORTER TERM DOWNSIDE TPs:
TP1 - $800 | HIT!
TP2 - $760 | HIT!
TP3 - $720 | HIT!
TP4 - $700 | HIT!
I believe we'll be making a lower low in the coming weeks and hit that $630 mark but only time will tell!