Wed 17th Sept:
ADM: This stock has continued on from a triangle breakout to give a 67% gain:
Saturday 6th Sept
TSLA: I noted in my blog on Mon 26th May 2014 how TSLA looked to be making for a ‘Bull Flag’ breakout. This is the chart of TSLA as it appeared back then:
TSLA May 26th
The ‘Bull Flag did evolve and this move has delivered up to a 38% gain:
TSLA 6th Sep:
Elon Musk thinks the stock price is too high but it looks like a ‘buy on dips’ stock to me. I’ve used the weekly chart to apply Fibonacci levels to assess possible pull back targets. The fibs have been applied to the most recent bull move:
Possible targets include:
- The 50% fib near $240. This is also a recent S/R level for TSLA.
- The 61.8% fib level is a popular target and for this latest TSLA move is located down at $220. This level has also been recent S/R for TSLA.
These two levels of $240 and then $220 might be good places to keep in mind for any buy orders.