TradeCompass for Tesla Stock

TradeCompass for Tesla Stock

Current Price: $417.00 (at the time of this analysis)Bearish Threshold: $415.28Bullish Threshold: $421.75

Directional Bias: The tendency leans bullish. While Tesla hovers near a key inflection point, it requires confirmation to determine sustained movement.

Bearish Outlook:

Below $415.28, Tesla could face increased selling pressure. Here are the bearish profit targets:

1. $413.15 – Just above the Value Area High (VAH) of yesterday.
2. $410.19 – Above the Value Area Low (VAL) of yesterday.
3. $406.46 – Ideal for a swing trade setup.
4. $400.55 – A deeper bearish extension.

Bullish Outlook:

Above $421.75, Tesla exhibits potential for an upside breakout. Here are the bullish profit targets:

1. $423.69 – Close to the Point of Control (POC) from three days ago; a quick initial target.
2. $428.02 – Reflecting further bullish momentum.
3. $433.82 – Third Upper Standard Deviation of VWAP from three days ago; a strong stretch target.

Trade Notes:

• Tesla’s setup suggests a high likelihood of directionality near the key levels of $415.28 and $421.75.
• Use these levels as your “compass” for identifying shifts in sentiment and potential entries.
• Employ partial profit-taking and manage risk responsibly, especially near round numbers like $420.

Trade Tesla at your own risk. Thank you.

This article was written by Itai Levitan at www.forexlive.com.