Driving to Profits Trading TSLA

You likely know that I track TSLA pretty frequently. This is probably my 13th article on TSLA for TraderPlanet over the last 4 years, maybe even more. Regardless, below are some facts and some of my opinions regarding the technical prowess of this electric stock. 


  1. The 200 simple moving average on a weekly is $197.65 - TSLA’s stock price is currently above that price. 
  2. TSLA broke the 200 SMA on a weekly briefly before (back in February 2016) before it had a massive bullish move. (This time could be similar [is my opinion.])
  3. The 100 SMA on a weekly chart is $220.10 (which TSLA’s stock price is below. 
  4. The 200 SMA on a daily chart is $214.56, which TSLA is below. 
  5. The 100 SMA on a daily chart is $202.62, which TSLA is above. 
  6. TSLA is above the 10,20 and 50 exponential moving averages on both the weekly and daily charts. 

My opinions: 

  1. It really seems TSLA has bounced nicely off the $181.75 before in the past a few times. 
  2. It likely appears TSLA is doing just that, once again. 
  3. On the daily chart TSLA looks like it has formed a strong double bottom chart pattern, with the neck line being at approximately $197
  4. In my viewpoint, I would say TSLA is in a large channel between $181.75 and $280.
  5. There likely will be some slight slowdown on TSLA as that $215 - $220 ranges from the longer term averages and possibly the longer retest of that double bottom neckline, but traveling into 2017, my outlook for the first 2 quarters will be bullish to neutral on TSLA. 

My weekly chart is below. 





I didn’t JUST go bullish on TSLA by the way. Check out my video from 2 weeks ago (yes, you read that right) when I was mentioning about getting into weekly calls on TSLA. Safe to say, they worked well. 


Thanks for  reading!! You rock!!

Jerremy Alexander Newsome is a full-time trader and the CEO and co-founder of Real Life Trading - a community of innovative, inspiring, and driven people from all around the world. 


Join In on this conversation, post a comment below.
Visitor - jimmy: L.A. native Aimee Track of Tune Cheap Replica Handbags of Style started blogging in 2008.
Reply Flag
Visitor - 1len: Much interesting article and I am so delighted to be here and to gather this awesome post. Thanks a lot sir. replica yeezy boost 350
Reply Flag



ROI Alert: Little Known Pharma Company

The market has seem some almost unprecedentedly strong bullish moves during this 2016 Santa Rally that...

December 20, 2016

The Bearish Retest Gap

 In this article, I want to focus on a specific type of gap, that I look for when I day trade. I call it...

December 06, 2016

Don't Sneeze at Kleenex Potential

Just last week, we stunningly nailed the bearish analysis on PANW.  That was a short term trade. After...

November 29, 2016