TSLA Channel -- Can it break the $717 ?
TSLA is playing in a bull flag, but within that, it is playing in a channel it was in almost all of 2020, until it broke out of the channel in Nov 2020 after the S&P announcement.
I feel TSLA will continue to play in the channel. More specifically, I think there are some very easy swing opportunities between the $620 - 670 - 717 channels (red and grey arrow paths on the chart)
These are easy swings for the next week.
Upside: TSLA may just surprise and break the 717. I don't personally see this happening until closer to earnings, but, not a bad idea to be in the position for this.
Long-term, TSLA is at a great buying price. I have a previous chart done with the TSLA bull flag (wider view). I expect there could be another dip later this year, but don't expect it to be a crazy 500$ price target. Keeping an eye on TSLA.
Good luck traders.
I feel TSLA will continue to play in the channel. More specifically, I think there are some very easy swing opportunities between the $620 - 670 - 717 channels (red and grey arrow paths on the chart)
These are easy swings for the next week.
Upside: TSLA may just surprise and break the 717. I don't personally see this happening until closer to earnings, but, not a bad idea to be in the position for this.
Long-term, TSLA is at a great buying price. I have a previous chart done with the TSLA bull flag (wider view). I expect there could be another dip later this year, but don't expect it to be a crazy 500$ price target. Keeping an eye on TSLA.
Good luck traders.
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