Aggiornato

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 attivo

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.

Nota

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

Nota

Additional 50 basis points for 100 basis point risk

Nota

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

Nota

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

Trade chiuso: stop raggiunto

TomKirk

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TomKirk