Tesla Short Term Daily Turnaround
Tesla's share price has just double bottomed on both the 200 day EMA and MA, two very strong trend support/resistance zones. Coupled with the pending quarterly earnings report tomorrow (November 1st, 2017), I expect a bullish week ahead. This is a very low risk trade with a stop loss ~$3 below the entry, which is right below the 200 EMA/MA, and an initial target of $338 just below the 0.236 fib, which is entirely dependent on the details of the earnings report. On the last earnings report on August 2nd when earnings were beat by 0.61 points (yet still at a loss below -1/share) price immediately jumped from that daily open of $318 to the next daily open of $345 to continue upwards into the next week, topping at $370, an increase of 16%. I anticipate similar results for tomorrow if analysts earnings estimates are beat again.
Trade fechado: stop atingido
Trade fechado: stop atingido
Earnings were far worse than analyst's expectations at -$2.92 EPS
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.