$TSLA in accumulation again
Hello fellow traders and dear padawans. As we can see from the chart, after the March 2020 crash TSLA has been trading on a clear pattern of accumulation followed by steep rallies. It looks like we are in another accumulation ranging between $790 and $900. Although volume has been decreasing that OBV keeps going up like a rocket, which gives me confidence there will not be a big correction (given the market as a whole doesn't go through correction). RSI is holding above the 50 level but not on overbought zone, which is what we want to see. The MACD has been on a steady rise since the crash. It is now taking a breather from that long run. Last time it happened was on the previous accumulation on the 600s. Also, after that dip last week the price moved above the 21 and 14 emas. Today it found support on the 14ema and moved back up, which is a good sign.
I bought a fair amount of shares when the price dipped to $795. I am still accumulating at these levels, specially when the price falls and responds to a fib level or ema on the daily or intraday timeframes. Along with APPN Tesla is by far the most profitable stock in my portfolio, and one of the most profitable that I trade so I keep buying on every dip and repeating the same process.
4hr chart
Safe trades!
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***The ideas shared here are my opinion, not financial advise to place trades. Please do your own research before buying/selling stocks***
I bought a fair amount of shares when the price dipped to $795. I am still accumulating at these levels, specially when the price falls and responds to a fib level or ema on the daily or intraday timeframes. Along with APPN Tesla is by far the most profitable stock in my portfolio, and one of the most profitable that I trade so I keep buying on every dip and repeating the same process.
4hr chart
Safe trades!
Show your love:
If you get anything out of this TA, please hit the like button so other can find this analysis quicker.
Follow for more:
If you want the best entry/exits just follow me, you won't regret. Thanks a lot!
***The ideas shared here are my opinion, not financial advise to place trades. Please do your own research before buying/selling stocks***
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