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Could Telsta finally be carving a bottom?

-26 week horizontal range
-Declining volume

-Unsure at this stage but watching for reversal or continuation of trend

Trade ist aktiv

It would appear we could have a break away gap however volume at this stage is not supporting this interpretation. None the less I have taken a short at 3.34 for 50 basis point risk. Planning an additional 50 if price does not run away.

Anmerkung

A minor head & shoulders interpretation with a retest of the neckline within the confines of the larger pattern could support the short side bias but that could be somewhat arbitrary

Anmerkung

Additional 50 basis points for 100 basis point risk

Anmerkung

Schabacker goes on to say, "Break-outs which are obviously the result of only a normal ex-dividend correction should, of course, be disregarded, and the subsequent price action watched to determine the true technical trend"

For sake of disclosure

Anmerkung

Stopped out of initial tranche, Risk down to 50 basis points

Trade geschlossen: Stop wurde erreicht

TomKirk

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TomKirk