TSLA continues to consolidate in prior gap zone with no break below. Oscillator momentum is slowing down meaning... building up buyers for the next leg up. While I still expect a reaction at 267, it's looking to me like the next push could go up even more. Watch your oscillators for early signs of crossover and bullish momentum in the oversold zone.
Obviously a catalyst could always gap us down and create that dreaded island reversal. But I don't see anything bearish about this chart right now. Even a clean gap fill down to that 235 zone looks like a nice buying opportunity.
Arguably this is overheated, but overheated alone is no reason to blindly go short. Exercise patience and react to short term pullbacks as a buyer. Scalp long only until we either confirm or deny this range.
Obviously a catalyst could always gap us down and create that dreaded island reversal. But I don't see anything bearish about this chart right now. Even a clean gap fill down to that 235 zone looks like a nice buying opportunity.
Arguably this is overheated, but overheated alone is no reason to blindly go short. Exercise patience and react to short term pullbacks as a buyer. Scalp long only until we either confirm or deny this range.
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Oscillator cross as expected.
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Still building steam. No sense posting a new idea until the bigger move happens.
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Breakout
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