Here’s your trade on Tesla ($TSLA). (June 15, 2020)
TSLA TTT TTD TSLA TT TTD TSLA
I want to talk about Tesla ( NASDAQ: TSLA ) and show you a trade on this. This stock is forming are really nice continuation pattern; let’s just follow this thing through here. The stock was squeezing here, and everybody was looking at it. I was all over it but that was a crowded field. A lot of people were seeing how this stock was squeezing, above 800.00, above the middle Bollinger Band, which is the 20-day moving average, and then a big move up here to 900.00.
The deal is if this thing breaks 900.00 it’s going to blow, and then it did. Here’s our first breakout here at 850.00, 860.00, something like that. It runs to 900.00 and then it stops; so far we’ve got a breakout that had no continuation but I didn’t really fail. It didn’t fail because the actual breakout, we’ll do it this way, the breakout was down here, we’re not talking about up here. The breakout down here actually worked, it just went up to 900.00 and that’s where it stalled and so it is kind of like a little flag pattern there.
So we track this thing, it’s holding up, boom. Now we get this next move higher and that’s last Monday, we get a really nice move. So this is the continuation of this. And the market gets kind of funky but Tesla ( NASDAQ: TSLA ) keeps ongoing. This is from Wednesday it blows through $1000.00. So what do we have here? So far we have a move up, a pullback, that’s like a zig and a zag. And then a move up and then a pullback, a zig and another zag. Now we are getting another ziggy here, right?
So then what happens? A zag, and then another zag here. This takes us to Friday and then boom, we’re back up here. So we have a squeeze here, zig, zag, zig, zag, zig, big old zag. Now we’re looking for another zig right up here. This is a stock, I go into this in the Strategy Session, not as it relates to Tesla ( NASDAQ: TSLA ) but there are a couple of other stocks that look kind of similar to this, one is Trade Desk ( NASDAQ: TTD ), the same kind of deal. If you look at Tesla ( NASDAQ: TSLA ) you get this same kind of breakout and a pullback, this same kind of thing here ( NASDAQ: TTD ). So there are a lot of different patterns around on different stocks that resemble this ( NASDAQ: TSLA ).
And so What I would suggest doing is watch Tesla ( NASDAQ: TSLA ) tomorrow. Don’t get freaked out by the points. It ran up 50 points today, okay fine it was 5.5 percent. I would say if the stock clears above today’s intraday high, that’s 998.84 so let’s make it $1000.00. I would say if this stock goes up to literally like $1000.20; if this goes up above $1000.00 I think that’s when you are going to buy this thing and expect more upside. Look “Elron” Musk, he’s a happy guy, he is going to be the world’s first multi-hundred billionaire. Who knows, maybe even a trillionaire now that Adam Neumann has been taken out of the mix.
So look for this stock to move higher on $1000.00. And when you think about it, oh my gosh that’s $14.00 from now. No, it’s not, move the decimal point over to the left. What we are talking about is waiting for the stock to go from $98.64, now 98.70, up to $100.00. So that’s your trade here on Tesla ( NASDAQ: TSLA ).
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