Score 8.1 (out of 10): TESLA sets up for +10.1% rally in 2 weeks

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What’s Going On Here?

TESLA has just announced that they sold most of their Bitcoin. This might help the company to focus on their core business.

Why Now?

TESLA INC has triggered a new price range signal. During similar occasions, TESLA INC shares had a median return of +10.1%, over the following 2 weeks – based on 10 historical occasions with 8 of those showing positive returns (80%). This buy signal for TESLA INC received a high score of 8.1 (out of 10). This insight was generated on 2022-July-21 with last price of 815.12.

What’s This Company About?

TESLA INC is in the Auto-Cars/Light Trucks business. Based on the last 2 years’ risk/return profile, this asset is seen as Moderate Risk. Ticker symbol: TSLA US.

What’s My Risk / Reward and Time Horizon?

We found 2 weeks to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 897.47 (+10.1%) has been reached. Based on TESLA INC’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 758.42 (last price at 815.12), which is equivalent to a -7% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ under (2), etc.

Previous episodes:

24.3% (March-2022), 3.4% (June-2021), -7.6% (April-2021), 21.9% (November-2020), 22.7% (April-2020), 7.9% (July-2019), 11.6% (October-2018), 13.4% (June-2018), -3.5% (December-2017), 8.6% (December-2016).

Historical Chart:

Summary:

NameTESLA INC
ViewUp
Star (1 to 10)8.1
Target10.1%
Time2 weeks
Hit Rate80%

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