Premium Technical Analysis: Tesla 30-day analysis and predictions + ELI5 explanations!

Hello friends,

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I’m explaining everything using TradingView.

They have a promotion running until July 7th.

Here’s the link: 70% off for Independence Day.

You can use the 30-day trial to follow the course.

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Let’s start with TradingView’s AI AutoCharting

1. Click 1D time frame or zoom in. Zoom out a bit to see about 2 days all-in-all. These are the most recent events that happened to the stock.

2. At the top bar, click “Indicators”, then “Technicals”, then “Patterns”, and finally “All Chart Patterns.” Add it to favorites

   

3. And from now on TradingView’s AI will do the job for me and detect the most useful patterns and indicators on the graph for me:

Now what can we see here already?

Patterns Detected by AutoChart AI

Tesla (TSLA) Stock Analysis

Key Chart Patterns

1. Bullish Flag:

   • Location: Early in the trading day

   • Significance: Potential continuation of upward trend

2. Bullish Pennant:

   • Location: Mid-morning

   • Characteristics: Converging trendlines, typically followed by breakout

3. Falling Wedge:

   • Location: Afternoon

   • Note: Despite downward slope, often bullish in overall uptrends

Current Stats

• Price: $246.53

• Change: +$0.79 (+0.32%)

• Day Range: Low $245.71 - High $246.63

Technical Analysis

Trend Analysis

The overall trend appears bullish, with price action respecting an upward trendline despite intraday pullbacks.

Support & Resistance

• Support: Lower trendline of falling wedge, previous day's lows

• Resistance: Upper price target (purple), previous high from bullish pennant

Volume

Not clearly visible, but crucial to confirm pattern breakouts

Predictions

1. Short-term Outlook: Bullish, based on consecutive bullish patterns

2. Potential Breakout: Watch for upward breakout from falling wedge

3. Price Targets:

   • Bullish: Purple target line (exact price not visible)

   • Bearish: Red target line (lower than purple)

Now let’s move on to the main point of this lesson mid-term prediction using MA Exp Ribbon pattern.

I will be also adding a simplified step-by-step explanation section at the end of this newsletter called “Explain it to me like I’m 5!” so that even beginner traders can start understanding very complex patterns.