$TSLA, Tesla, Inc. - Entry

Trade Entry: 04/10/17

            Since April 3rd, I’ve been watching $TSLA like a hawk after it made a 5% move into All Time High territory on strong volume. The move came when $TSLA reported that their first quarter vehicle deliveries jumped a whopping 69% compared to the previous year’s delivery numbers of 25,000 vehicles. Can TSLA repeat its  2013 massive run? Anonymous twitter user @DennisChonAC says yes it can!

Position Bias: Bullish

Trade Style: Long Term Swing Trade

    Technical Criteria

    • Breakout Volume (Volume on Earnings Day): 13.89 million shares
    • Daily Average Volume: 5.23 million shares
    • Relative Volume: 2.66
    •  Average True Range: $6.93
    • Swing Setup: Bull Flag

    Entry Price & Time

                $304.81. $304.81! That was the price to get in. Once $TSLA broke above this price I planned to enter the flag break with a nice stop underneath the consolidation. I didn’t know how, I didn’t know when. But this morning when I woke up $TSLA gapped up and opened at $309.15! Why? Most likely, institutions and big banks pushed the price past this point so that they can get the jump on the rest of the market. Huge spread and slippage gave me a worse fill than I thought.

                Entry Price: $311.36

                Entry Date: 04/10/17

                Stop Price: $290.50

                Risk: $19.50

    $TSLA Entry on Daily Chart

    $TSLA Entry Execution

    Remember, no one has the ability to tell the future. All we can do is listen to the rules and know that sometimes we will make money and sometimes we won't. But when you do, it should be more than when you don't.