Tesla at Key Resistance on earnings day
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Tesla 
TSLA
Earnings today Wednesday 19th July (AFTER close)
A reminder that prior to a similar major megaphone breakout in 2019 resulting in 161% increase in 32 days, we FIRST had a 10% pull back off the upper megaphone resistance.
I believe this resistance at the $300 - $314 level for Tesla (See Chart). I am expecting a pause or pull back here of c.10% or more.
Eventually we should breach the $300 level and find support above $314. The trade becomes much safer then.
The 200 day is far away from price atm and we will revisit it at some stage. In 2019 we had a massive breakout of 161% and came all the way back down to the resistance level.... patience is king. If you intend on sitting through such a move, fine. If not and you want to pick a less stressful entry keep these things in mind and use my chart as helpful guide.
PUKA
TSLA Earnings today Wednesday 19th July (AFTER close)
A reminder that prior to a similar major megaphone breakout in 2019 resulting in 161% increase in 32 days, we FIRST had a 10% pull back off the upper megaphone resistance.
I believe this resistance at the $300 - $314 level for Tesla (See Chart). I am expecting a pause or pull back here of c.10% or more.
Eventually we should breach the $300 level and find support above $314. The trade becomes much safer then.
The 200 day is far away from price atm and we will revisit it at some stage. In 2019 we had a massive breakout of 161% and came all the way back down to the resistance level.... patience is king. If you intend on sitting through such a move, fine. If not and you want to pick a less stressful entry keep these things in mind and use my chart as helpful guide.
PUKA
Ghi chú
Tesla UPDATE- TSLAAs predicted in the chart a 10 - 13% pull back from resistance
Could the pull back act as spring for price like in 2019? Please see my other Tesla chart where i compare the price action to 2019's megaphone. Its quite the sight.
I personally would relish a revisit of the 200 Day SMA but what are the chances of that now? It will be very interesting to see how next week goes
Ghi chú
We are currently in the green box, which i consider a buy zone, however I am starting to think we could easily test the bottom of the box. With that in mind $240 could be a decent bid level
Ghi chú
Guys we look like we are on course to test the 200 day SMA
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