From TradingView · · 1m 20s
Tesla's bull flag: 400 first, then 500
A trader's read on TSLA says two price levels decide whether the chart runs to new highs or stalls.
In brief
A trader's read on TSLA says two price levels decide whether the chart runs to new highs or stalls. The whole thesis rests on two levels holding: reclaim 400 and hold it, then clear 500 for the bigger move. Originally reported by TradingView.
A daily bull flag
TSLA is sitting inside a bull flag drawn on the daily chart, the consolidation pattern traders watch for a continuation move higher.
“TSLA tesla has a daily bull flag (white lines).”
400 is the line
The 200-day EMA sits right around 400, almost on top of the flag's resistance. Breaking the trend line and holding above both is step one.
“If breaks that trend line and stay above ema200 thats at 400$”
Measured move hits the highs
Project the flag's own height off the breakout and the target lands near Tesla's all-time high, maybe a bit above it.
“measured move pattern break would be around all time high's if not bit higher”
The bigger rectangle
Zoom out and the stock is also range-bound inside a large rectangle. That range, not the flag, sets the ceiling for the ambitious target.
“it's also trading inside a big rectangle (yellow lines)”
500 unlocks 760
Clearing 500 would take out the all-time high and break the rectangle. The measured target from that break runs as high as 760.
“a possible target up to 760$!”
Chart over conviction
The call is deliberately agnostic about Tesla the company. Sequence matters: hold 400, then 500, then look higher.
“that you like the company or not it's all in the chart's”
In short
The whole thesis rests on two levels holding: reclaim 400 and hold it, then clear 500 for the bigger move.
