Tesla TSLA Daily Time at a Price Analysis - NAILED THE TOP
The last chart on Tesla nailed the top zone.
The question now is: What do you do next?
Today is day one of a decline off of the high that has 6-days at one price (at the 250+ level). If TSLA holds here until the close, it sets up 5 more days of decline. However the drop in price is already in line with the high at 263 and the mode around 250, which implied a drop back to 237 where it fell to today.
So, this is just an update. It is not pointing out a low-risk, high-probability trade. I am merely updating you on the setup of the time that expired for TSLA at the high from the 12-day rally, the 5-day rally and the 3-day rally all expiring one day after each other.
TSLA can lauch on a new upward projectile once it climbs back above the mode since the high. You can approximate that by using a moving average of the number of days since it peaked which right now was 8 days ago. So, use an 8 day moving average now to find key resistance. Tomorrow, change your moving average to 9 and so on. Just count back to the number of days since the high.
If you are short TSLA, this is a good place to cover. Hence my "neutral" stance awaiting a rally to 250 to sell short with a stop and reverse at 255.
Cheers.
Tim 12:55PM EST, 3/10/2014
The question now is: What do you do next?
Today is day one of a decline off of the high that has 6-days at one price (at the 250+ level). If TSLA holds here until the close, it sets up 5 more days of decline. However the drop in price is already in line with the high at 263 and the mode around 250, which implied a drop back to 237 where it fell to today.
So, this is just an update. It is not pointing out a low-risk, high-probability trade. I am merely updating you on the setup of the time that expired for TSLA at the high from the 12-day rally, the 5-day rally and the 3-day rally all expiring one day after each other.
TSLA can lauch on a new upward projectile once it climbs back above the mode since the high. You can approximate that by using a moving average of the number of days since it peaked which right now was 8 days ago. So, use an 8 day moving average now to find key resistance. Tomorrow, change your moving average to 9 and so on. Just count back to the number of days since the high.
If you are short TSLA, this is a good place to cover. Hence my "neutral" stance awaiting a rally to 250 to sell short with a stop and reverse at 255.
Cheers.
Tim 12:55PM EST, 3/10/2014
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.