TSLA China Update: June Import and Registration Data

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

<a href="https://www.smartkarma.com/entities/tesla-motors-inc" target="_blank" rel="noopener" data-smartkarma-citation="entities:20279:1">Tesla Motors (TSLA US)</a> has formed a micro triangle that will dictate direction on a breakout through pattern points at 240 and 227 for tactical direction with stiff overhead resistance from the previous floor support at 255-60. This resistance also represents the July 25 gap that has been partially filled. Gaps like this tend to be filled and then we resume the decline and make the gap zone a heavy resistance area with sell pressure.Triangles more often than not are continuation patterns and in this case a break below 227 would induce a sharp decline toward 210 price and 61.8% retracement support. Below 208 would open the way to test important support at 180 and is the macro support zone to hold/break for the macro cycle.Macro risk stems from the previous MACD floor breach that will now act as resistance. A break of this magnitude in the weekly cycle does increase odds of a the macro bias pressing lower to reach for new chart lows below 180.We outline short levels outside of triangle break points.

Tesla Motors (TSLA US) has formed a micro triangle that will dictate direction on a breakout through pattern points at 240 and 227 for tactical direction with stiff overhead resistance from the previous floor support at 255-60. This resistance also represents the July 25 gap that has been partially filled. Gaps like this tend to be filled and then we resume the decline and make the gap zone a heavy resistance area with sell pressure.Triangles more often than not are continuation patterns and in this case a break below 227 would induce a sharp decline toward 210 price and 61.8% retracement support. Below 208 would open the way to test important support at 180 and is the macro support zone to hold/break for the macro cycle.Macro risk stems from the previous MACD floor breach that will now act as resistance. A break of this magnitude in the weekly cycle does increase odds of a the macro bias pressing lower to reach for new chart lows below 180.We outline short levels outside of triangle break points.

Tesla Triangle Break Points and Structural Bear Levels