TSLA the next leg up

Discussion in 'Stocks' started by Stocks4life, Jun 27, 2013.

  1. After a month of rest starting to head higher on 94% higher volume today

    BREAKOUT CONFIRMED breakout above 108.62, no resistance in area just above.
    Type: True breakout from triple resistance.
    Target: 127, 16.3% Stop: 103.04, Loss: 5.6%, Profit/Loss ratio: 2.9 : 1 - Good


    source: http://www.stockconsultant.com/consultnow/basicplus.cgi?symbol=TSLA
  2. the1


    I've seen moves that look exactly like this and the majority of them fizzle out. Too much volume has gone into that recent move up. The volume pattern is declining consistently. Risk outweights reward but when it comes to the market....yeah, anything can happen. Just don't the risk/reward here. Why didn't you post this when it jumped above 40? :confused:
  3. Eight


    They announced quick change battery packs that could make a recharge pit stop quicker than filling a tank of gas.
  4. Pekelo


    That is probably in the dreamland category. Not to mention the battery is the most expensive component of the vehicle, do you really want you hardly used battery to exchange for a god-only-knows-how-old recharged pack???
  5. Eight


    Capture the vision!!

    Maybe you won't buy the batteries at all but pay for the use of them. Your new car will come with a rented battery of no particular provenance, the cars will be able to gauge the usefulness of the battery and if one isn't working it will be taken out of service for repair/recycle.

    Another use would be to own two batteries and get a changeover done automatically in your garage.
  6. NoDoji


    I agree that moves like that tend to fizzle at some point, but how do you know when? Price can run much further before fizzling.

    The OP has presented many technical price action setups and always states the reward and risk. In this case it's almost 3:1, which means the reward outweighs the risk significantly.

    Price action traders commonly say: "Trade what you see, not what you think, and the profit will take care of itself."

    That was the best thing I ever learned.

    The declining volume you mention is consolidation in a range and you want to see that occur on low/declining volume.

    This setup from last month was similar to TSLA's:

  7. the1


    True, declining volume during a consolidation is what you want to see but it's been declining from the recent advance all the way until now, not just during the consolidation phase. There's no question the stock could keep going north. I'm basing my position on experience. I won't be playing it but for those who do I hope it works out.

  8. aknaya1


    I like this trade, except your stop loss is tight. I'll consider this trade if we get a retest of the trend line on the daily, which is around 102-103, so basically I'll enter this trade if your stop is hit :p
  9. Are you sure this is a bad thing, in light of the recent increase in volatility and downward pressure on the general market?

    To me, it sounds like it's resisting any move to the downside, and when the general market / QE turmoil subsides, could be one of the first stocks to take off.

    But based on NoDoji's post, act on what the market/stock is doing, not what you want it to do. If you're in this because you need/want to be right, pass on the stock. If you're in it to make money, go long if it goes up, or short if it goes down.

    Traders want volatility. Here's the 2013 version of TASR. Enjoy!
    #10     Jun 30, 2013