September 17, 2016

Stock Alert and Chart Analysis: TSLA

Disclaimer

  In these stock alert and chart analysis posts, I want to point out a security that has a very interesting chart and/or serious buzz in the social media sphere or mainstream media.

  To help understand these alerts and chart analyses, consider checking out how I perform technical analysis here and how I trade breakouts here.

  Okay, back to the good stuff!

Stock: TSLA, Tesla Motors, Inc.

Long-term Weekly Chart Technical Analysis:


TSLA broke some key up-trendline support on the weekly chart. The breakout wasn't that strong so I'm cautiously short-biased, but short-biased nonetheless. Chances are TSLA has a short-term bounce to 220 resistance, and that's where I'd be looking to get short.

Long-term Weekly Chart Gameplan:

I would short any pops to 220 area with a stop at 225 area. Position sizing is key here because the plan calls for a minimum of a $5 stop. That means some serious room for the short to work, but this plan respects the chart and not my emotions or a desire to make a ton of money. Plan your trade and trade your plan.

What are your thoughts on TSLA?

Jory

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