Next low-risk opportunity to jump the TSLA Freight Train

Tesla is now the largest car maker in the world and becomes more and more the nightmare of all Short-Sellers. This is unlikely to change in the coming years. Last I explained in the TOTD 6th of February 2020 why Tesla stock fired a powerful buy signal in the DECADE timeframe by printed last December closing price and the afterwards stellar January 2020 gains. To re-read this click here...

At that time we almost knew that the „Big Round“ 1000$ W.D. Gann threshold = upmagnet number should necessarily be reached. And now that the price fired a new 1794.99$ all-time high (ATH) at this week high, I can only announce that another powerful buy signal has been fired on DECADE base and thus sometime in the 2020-2029 DECADE the next higher Big Round number, namely the 10000$, with a +90% probability has to be reached and worked off.

For the more short-term oriented trading activities ;-)) and strategies in the big picture we use this monthly up setup what is a monthly 9 Candle up where 9 - 1 = 8 Fib number. Setup starts at last important low of the passed 2010-2019 DECADE, what is the # 1 // final low of 2019:

Tesla settled at 1500$. What is round Gann number, thus important and most important nearest support actually. The 9 month candles long initial impulse forecasted some problems starting at lower line of 2nd double arc, natural uptarget out of the most recent important low of the old DECADE.

And here we are. This week printed 1794.99$ July ATH shows 97% perfect hit of lower line of 2nd from below, followed by a serious reaction to the downside. Like the # 9-candle this underway # 14-candle shows a very long upper wick, what always signals an important/significant bullish exhaustion has occured or probaly is underway. ALSO # 14-July 2020 - 1 is 13 Fib number, important natural turn number..., so something points to the outcome that a more serious pullback/correction has started at 1794.99$ July ATH!

The lower line of 2nd could have become an arc resistance in the DECADE time frame, but for sure this rail should deliver GUNNER24 Main Resistance energy for the month candles to come. At same time lower line of 2nd resistance arc is very interesting = major ATH backtest magnet!

==> The first month close above the lower line of 2nd would be the next buy signal in the DECADE time frame!

The, or a more serious pullback/correction of course could run into the 1st double arc environment for testing back this natural monthly future support area.

Within chart above I noted that the 1400$ down to a 1290$ or so is MAJOR future support zone for TSLA shares. Also this 1st GUNNER24 Double Arc range forms future „core support area“ running from 1365$ to 1290$ as upper line of 1st is important monthly support at 1365$ for the July 2020 and lower line of 1st arc support runs at 1295$ for this still in the making July 2020 candle.

==> Think we should feel safe going long at 1295$ lower line of 1st monthly support rail when 1295.00$ is getting tested within this probably started daily and weekly pullback/correction cycle.

After this parabolic run, emotions are at rev limiters. The bears are grilled and cry, the bulls are dancing. The intraday volatility is extreme, the stock price drops and rallies a 100$ within some hours, depending on. Next earnings figures and forecast are due next Wednesday after the regular close. Such a long position could therefore possibly be triggered as early as midweek as a consequence of the Q2 earning figures.

This week printed fresh 1794.99$ alltime-high ALSO has arrived at combined weekly GUNNER24 Uptarget Resistance. So, this bull extreme has worked off combined weekly & monthly resistance magnet:

Regarding the weekly chart, I have two valid up setups we should use for trading decisions and the assesment of the trends. Both start at the year low what is the # 1 // 350.51$ // coronavirus panic low.

The above overlayed weekly 13 Candle up shows that the ATH was nearly perfect work off of the lower line of 2nd double arc = natural GUNNER24 Uptarget, now future important weekly resistance. With the 1500$ close this lower line of 2nd now represents not only future week high, but also future weekly closing base resistance threshold.

Accordingly, the first week close above should be the next important buy signal in the weekly chart...

Backtest cycle into 1st double arc support looks to be underway as the candle has long, long upper tail (bull exhaustion!) and has mighty red body what during Feb20 virus sell-off cycle triggered a signal for more down to expect.

From the environment of the 1st double arc there are some important future supports, what I have highlighted dark-green-dotted. Difficult from today's point of view which of them has the highest attraction for a possible turn/low or to be a main support.

But it should be obvious that the 1400$ down to the 1290$ range ALSO should offer unsual strong, cause natural support in the weekly chart.

Here is the next. Another to a Fib number oriented weekly up:

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