Could this be a small head and shoulders pattern forming is the recent trading trend on Tesla?
An Inverse Head and Shoulders pattern is a bullish reversal pattern in technical analysis that indicates a possible change in trend for an asset. It consists of three troughs, with the middle trough (the "head") being lower than the other two (the "shoulders"). The pattern suggests that after a downtrend, the asset's price may start rising. Traders often look for this pattern as a signal to buy, expecting the price to continue rising after the pattern is confirmed.
Will be looking closely for the next couple of days if the stock is gonna trade higher before taking any action. Trade to consider, will be either selling a cash secured put or buying a near term call. As I prefers to collect premium then forking out money to buy options, likely will be more interested to Sell that CSP options.
Will be looking out for if the price action is gonna be rejected by the closes 20ema, if it can close above it, likely it will head up to 208 to where it gapped down also filling up that gap it’ve created.
@MillionaireTiger @Daily_Discussion @TigerEvents @TigerStars @CaptainTiger @ZEROHERO @Optionspuppy
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Could this be a small ‘inverse’ head and shoulders pattern forming is the recent trading trend on Tesla?