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Tesla Chart: Two Dueling Patterns to Keep an Eye On
From the Buzz & Banter: The electric-car maker could be ready to move.
Jeffrey Cooper    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MV PRO+.

Get Jeff's commentary plus day & swing trading ideas each day with a FREE 14 day trial to Jeff Cooper's Daily Market Report.

Tesla (NASDAQ:TSLA) turned its 3-day chart down for the first time since the last major swing low on January 13, which was just before an explosive move.

Note the Lighting Rod (large-range outside day) on January 14.

So, the behavior in Tesla from here will be important to observe.

I am watching two dueling patterns:

First, there is a mini Cup & Handle, which is potentially bullish.

Second, Gapfill from 2/25 ties to a price of $220, which in turn ties to the rising 20-day moving average.

As you may recall, $220 was the projection from January according to the Square of 9 Chart, which you can see here (subscription required). If Tesla declines toward its 20 DMA and satisfies Gapfill, faltering below $220, the implication is a deeper sell-off.

Belows is a daily Tesla chart for this year with its 20 DMA.



Twitter: @JeffCooperLive

Get Jeff's commentary plus day & swing trading ideas each day with a FREE 14 day trial to Jeff Cooper's Daily Market Report.
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No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Jeffrey Cooper
Tesla Chart: Two Dueling Patterns to Keep an Eye On
From the Buzz & Banter: The electric-car maker could be ready to move.
Jeffrey Cooper    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MV PRO+.

Get Jeff's commentary plus day & swing trading ideas each day with a FREE 14 day trial to Jeff Cooper's Daily Market Report.

Tesla (NASDAQ:TSLA) turned its 3-day chart down for the first time since the last major swing low on January 13, which was just before an explosive move.

Note the Lighting Rod (large-range outside day) on January 14.

So, the behavior in Tesla from here will be important to observe.

I am watching two dueling patterns:

First, there is a mini Cup & Handle, which is potentially bullish.

Second, Gapfill from 2/25 ties to a price of $220, which in turn ties to the rising 20-day moving average.

As you may recall, $220 was the projection from January according to the Square of 9 Chart, which you can see here (subscription required). If Tesla declines toward its 20 DMA and satisfies Gapfill, faltering below $220, the implication is a deeper sell-off.

Belows is a daily Tesla chart for this year with its 20 DMA.



Twitter: @JeffCooperLive

Get Jeff's commentary plus day & swing trading ideas each day with a FREE 14 day trial to Jeff Cooper's Daily Market Report.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Jeffrey Cooper
Daily Recap
Tesla Chart: Two Dueling Patterns to Keep an Eye On
From the Buzz & Banter: The electric-car maker could be ready to move.
Jeffrey Cooper    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MV PRO+.

Get Jeff's commentary plus day & swing trading ideas each day with a FREE 14 day trial to Jeff Cooper's Daily Market Report.

Tesla (NASDAQ:TSLA) turned its 3-day chart down for the first time since the last major swing low on January 13, which was just before an explosive move.

Note the Lighting Rod (large-range outside day) on January 14.

So, the behavior in Tesla from here will be important to observe.

I am watching two dueling patterns:

First, there is a mini Cup & Handle, which is potentially bullish.

Second, Gapfill from 2/25 ties to a price of $220, which in turn ties to the rising 20-day moving average.

As you may recall, $220 was the projection from January according to the Square of 9 Chart, which you can see here (subscription required). If Tesla declines toward its 20 DMA and satisfies Gapfill, faltering below $220, the implication is a deeper sell-off.

Belows is a daily Tesla chart for this year with its 20 DMA.



Twitter: @JeffCooperLive

Get Jeff's commentary plus day & swing trading ideas each day with a FREE 14 day trial to Jeff Cooper's Daily Market Report.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Jeffrey Cooper
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