Hubert Senters here.
Let’s take a look at Tesla, TSLA speculation at its finest whether you like Elon Musk or if you’re not a huge fan of Elon Musk if you like the cars. If you think they’re eventually going to go bankrupt because they’re burning cash so fast it doesn’t really matter.
If you do believe that you can short the thing. If you’re in the Elon Musk camp then you would go long but I’m sure what the technical looks like not the fundamentals and nothing like that. As you can see it is broke above the cloud here. So that’s one day, two, three, four, five, six, seven, eight, nine days above the cloud. So that’s not bad.
It is trending well according to the ADX and unless we get some good old-fashioned resistance. So you get some resistance right here that it’s about to hit into if it gets through $380 which looks like it’s headed to. It could potentially go all the way to $440 and here’s how I would figure out how that’s going to do this. So on Ichimoku I have a predictive thing where I can then go like ‘’yes, I can go okay.’’
So this is the low and then I can say that’s the high. And then I can say it’s probably going to pull back to about here between the turning line and the standard line about midway between those two. And then I could say ‘’okay, then it would go to $390, $393 then $431. And then $407 or $470 and then $495 so probably can go up here overhead resistance, pull back a little bit and then ramp back up.
Good luck. Hope it helps. I’ll see you on the next video.
Hubert.
