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TSLA trade ideas

Tesla (TSLA) Technical Analysis & Trade Strategy for August 22, 1. Technical Analysis Overview Trendlines & Price Action: Tesla is currently trading within a symmetrical triangle pattern, as seen on the 1-hour chart. The triangle's apex is approaching, indicating a likely breakout either upwards or downwards soon. This is supported by decreasing volatility as the price consolidates. Volume Profile: The visible volume profile indicates a significant support zone around $216, with a high-volume node at $224.58, suggesting these levels may act as support and resistance respectively. The point of control (POC) around $224.58 shows where most trading volume has occurred recently, reinforcing it as a critical level. Indicators: The MACD histogram shows decreasing momentum, with the signal line potentially crossing the MACD line, indicating a possible shift in momentum. However, there is no definitive signal yet. 2. Market Catalysts & Sentiment Subsidy Risks & EV Market Sentiment: Near-term headwinds for Tesla include concerns about potential subsidy cuts, particularly with upcoming elections that might lead to changes in EV incentives. This could impact demand and investor sentiment​. Recent Q2 Deliveries & Robotaxi Day: Tesla’s second-quarter deliveries have shown signs of stabilization, and the upcoming focus on Tesla's autonomous vehicle technology, especially post the August 8 Robotaxi Day, could reignite interest in the stock. Analysts see potential for a turnaround in Tesla’s story, driven by its advancements in AI and robotics​ 3. Strategy Breakout Strategy: Given the symmetrical triangle pattern, a breakout strategy could be effective. Watch for a decisive move above $228.21 (resistance) for a potential bullish breakout, with a target around $236 (next resistance level) or even $248 if momentum is strong. Break and Retest: If the price breaks above $228.21, consider entering on a pullback (retest) to this level, confirming it as support. The target remains $236 and then $248. Bearish Scenario: If the price breaks below $224.58, watch for a drop towards $216, which could be a strong support. A break below $216 could lead to a more significant downturn towards $212 or lower. Open Break Strategy: At market open, observe the price action around these critical levels. A strong move in either direction could be used to quickly enter a trade, aiming for 1-2% gains, especially if combined with rising volume. Prepare for Volatility: Given the recent consolidation, a breakout could be sharp and swift, so ensure stop-loss orders are tight to protect against quick reversals.
NASDAQ:TSLALong
by BullBearInsights
TESLA May Extends Uptrend Towards $310TESLA May Extends Uptrend Towards $310 Tesla reached the top of the channel at 270.90 on 11-Jul-2024 and the lowest price was reached at 182 on 05-Aug-2024 Over the past week, Tesla broke out of a bearish channel indicating that the bulls are once again taking control of the price. Considering that we are at the end of the summer season, chances are that we could see prices rise again near 310 You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
NASDAQ:TSLALong
by KlejdiCuni
3
A heartfelt message from human to human. A life lesson. Disclaimer: This video is not an analysis video so for those looking for a TSLA analysis here feel free to skip over. This video is a heartfelt message from one human to others - I learned some important lessons this morning about haters and about myself and I was given beautiful insight from G-D which will make me a better human being going forward. To those who come back time and time again to support me, I can't tell you enough how much I appreciate your appreciation - I truly spend my time making these videos to help you. I continue to pray that G-D silences my soul to those who hate and curse me. Thank you for listening and I will now get back to the analysis side of this business!
NASDAQ:TSLA
by ReigningTrades
6
Tesla (TSLA) for tomorrow and the rest of the August 21, 2024 Chart Overview: Timeframe: 1-hour Price Action: TSLA has been in an upward channel but recently had a pullback. It's currently near the lower boundary of the channel. Key Levels: Support: $220.29: Strong support, aligning with the lower boundary of the channel and the Ichimoku Cloud, which might act as dynamic support. $219.43: Another support level just below, likely an important psychological level. $212.22: Strong support; if price breaks below the channel, this level could be tested. Resistance: $228.38: Immediate resistance where the price previously encountered selling pressure. $234.60: A higher resistance level; a break above could signal a continuation of the bullish trend. $249.89: Major resistance; a target for the bulls if the momentum continues. Technical Indicators: Ichimoku Cloud: The price is above the cloud, which is typically bullish, but the current pullback suggests some consolidation or a possible trend reversal if it falls below the cloud. Trend Lines: The price is nearing the lower trend line of the upward channel, which is crucial. If it holds, it might bounce back to test the upper trend line. Trading Strategy: Bullish Scenario: Entry: Consider entering near the $220.29 support level if it shows signs of holding, with a tight stop-loss just below $219.43. Target: First target around $228.38, and if momentum continues, look for a possible move to $234.60. Exit: Partial exit near $228.38, full exit near $234.60 if resistance holds. Bearish Scenario: Entry: If the price breaks below $219.43 and closes below the Ichimoku Cloud, consider entering a short position. Target: First target near $215.25, and if it continues to drop, a secondary target at $212.22. Exit: Tight stop-loss if the price reclaims $220.29; full exit near $212.22. Rest of the Week: Upward Continuation: If TSLA holds the current support and breaks above $228.38, it could continue higher towards $234.60, and possibly $249.89 if bullish momentum strengthens. Downward Continuation: If the price breaks below $219.43 and closes below the Ichimoku Cloud, a downward trend could be confirmed, with $212.22 as the key level to watch. Monitoring the price action near these levels, especially the interaction with the Ichimoku Cloud and trend lines, will be essential for determining TSLA's direction for the rest of the week.
NASDAQ:TSLA
by BullBearInsights
$TSLA #InvH&S Base to $300 and #BeyondNASDAQ:TSLA is setting up a very nice potential Inverse Head n Shoulders Pattern... Technically you want to wait for the "neckline" to break before entering. Personally I'm looking at playing it into the neckline and #Beyond... In this specific area "A Gap Above 235 would be #Perfect" ... JPow Tomorrow will be #Interesting -Proph PS: If history repeats, expect more of the same (Bullish), Lies, CPLies, Employment Number Lies, etc... But Trump floating rumor about them "revising" and his history of "I hate to say I was right's" ... He's also been floating the idea of 29' style crash... The #Board feels like it's setting up a massive rug pull at some point, doesn't have to be tomorrow... Stay #Alert , no time for #Complacency imo , they practiced/rehearsed the Rug Pull that other Monday to #Perfection...
NASDAQ:TSLALong
by Prophecies_R_Us
7
New high for 3 days straight.... aGaIn ToMoRrOw ? Bow down to the bulls, cant even hate because I ate with them too (bars). Tesla is bullish in my opinion and as we all can see, they are getting close to the target I've stated the last few days and if you a bear, watch if they reject at 226 but I don't really think there will be an issue until 233. I really want the bears to react in that area... scare them a bit-make them sell a bit at 233 and hopefully bears can have fun, potentially do a retest at 216
NASDAQ:TSLA
by Mensky_Jwett
Tesla - Possibility Of A BreakoutNASDAQ:TSLA can break out soon: Over the past two weeks we saw an incredible stock market rally and also Tesla completely reversed the flash crash which we saw in the beginning of August. It is still quite possible that Tesla will break out of the long term triangle and immediately head back to the previous highs. Levels to watch: $230, $400 Click chart above to see the detailed analysis👆🏻 Keep your long term vision, Philip (BasicTrading)
NASDAQ:TSLALong
by basictradingtv
tsla C&Hstraight to technicals after tesla made this higher high on my trendline and proved we have an EMA to work on/trendline that it respects i would hope for it to either break through my 222 pivot or at least find support there (level by level) if we can hold the resistance as support and create another higher high we can look upwards to the next levels of 264 ,299 and ofc the 356. The projection of the cup and handle is 78% from current price (cup and handle depth = projection after breakout elon wishes to take tsla to the levels of 400 and based on the companys preformance of their robotaxi and other bots scifi they wish to introduce to the real world we could see this rise to a new ath or ofc.. a big failure to 90.78. companies need to preform to increase, unlike gold or silver or anything that works based on supply and demand so anticipating failure or success is literally impossible but if we believe in the company values in their leadership in their team that could up the chances. so if you trust elon can win the hardships there shouldnt be a reason the projection wouldnt work.
NASDAQ:TSLALong
by Captainobvious5454
Tesla (TSLA) Technical Analysis for August 20-23, 2024Current Market Data Tesla's stock (TSLA) is trading at approximately $222.72, showing a 3.05% increase today. The broader market sentiment, including the S&P 500, has been relatively positive, with major indices closing higher. This upward momentum is largely driven by optimistic expectations around upcoming economic data, particularly from the U.S. and China. Key Economic Events Impacting TSLA FOMC Member Waller's Speech: Any hawkish comments could create volatility in the tech sector, including TSLA, as it may hint at future interest rate hikes. CB Leading Index: A decline of 0.6% signals a potential slowdown in economic activity, which could weigh on growth stocks like Tesla this week​. Technical Analysis Chart Overview: The chart shows TSLA in a rising wedge pattern, typically a bearish signal. Price action is nearing the upper boundary of this wedge, and the stock is trading around a significant volume profile zone between $222.05 and $222.99. There's a visible resistance level at approximately $235.15. Support and Resistance: Immediate Support: $219.82 Stronger Support: $212.29 (also aligning with a lower volume area) Immediate Resistance: $222.99 Critical Resistance: $235.15 Volume Profile: The volume at the $222-$223 range indicates significant trading activity, meaning the price might struggle to break above this level. However, if it does, it could lead to a test of the $235 resistance. MACD: On the 1-hour chart, the MACD is starting to show signs of divergence, which may indicate weakening bullish momentum. Trading Strategy For Tomorrow (August 20, 2024): Bullish Scenario: If TSLA breaks above the $223 level with strong volume, consider a long position with a target around $230, keeping in mind the $235 resistance. Bearish Scenario: If TSLA fails to sustain above $222, watch for a breakdown below $219.82, which could open the door for a move towards $212. For This Week: Bearish Outlook: Given the rising wedge pattern and potential economic headwinds, a bearish bias could be warranted if macroeconomic data disappoints or if TSLA fails to maintain the current upward momentum. Scalping Strategy: Utilize the $219-$223 range for quick in-and-out trades, being mindful of the broader market's reaction to economic data. Conclusion While TSLA has shown strength recently, the technical indicators suggest caution, particularly with the stock trading near the top of a rising wedge pattern. Economic data throughout the week could provide additional volatility, making it important to stay alert to any changes in market sentiment. Suggestions: Monitor economic releases closely; these can heavily influence TSLA's price action. Consider reducing exposure if TSLA starts to break down from the rising wedge, especially with broader market uncertainties.
NASDAQ:TSLA
by BullBearInsights