TESLA (TSLA) Stock Rockets: Short-Term Long Trade Analysis

TESLA (TSLA) Stock Chart Analysis

• Time Frame: 15-minute
  
• Trade Type: Long setup, entry already achieved
  
• Entry Price: $246.76
  
• Stop Loss: $229.43
  

Take Profit Levels:

• TP1: $268.17 (Hit)
  
• TP2: $302.82
  
• TP3: $337.46
  
• TP4: $358.88
  

Key Insights

• Volume Surge: Current volume at 161.61 million, nearly doubling the 30-day average of 82.11 million, indicating strong buying momentum.
  
• Earnings Catalyst: Recent Q3 earnings report boosted investor confidence, leading to a 26% stock price surge over two days. Elon Musk’s holdings rose significantly, adding approximately $38 billion to his net worth.
  
• Next Catalyst: Earnings report expected in 87 days, maintaining potential investor interest.
  

Tesla's recent earnings report has catalyzed a bullish breakout, achieving TP1 with a clear path towards higher targets. Given the elevated volume and positive momentum, this trade aligns well with the current market sentiment.