$TSLA Gave 30% Gain

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$TSLA Gave 30% Gain

In a follow-up to my previous post on TSLA, I show how simple rules yielded a nice 30% gain in $TSLA. When volume and price work together, it is a powerful thing. In my previous blog, I said to watch for volume to support any move. Well, here are the results of today’s market update.

With building volume and price, TSLA gave a very nice bullish break of the congestion channel and consolidation wedge formed on the daily chart. This was confirmed with a “double-dot” Hawkeye Roadkill buy signal. Since my price target was projected at $280, a $257 entry would be a 10% target. A 5% risk would be a 2:1 ratio.

But that was not the end of the story. After earnings, $TSLA went on to beat expectations, and price drove up to $340, or about a 30% gain from the signaled entry point. With a 5% risk, that was over 5:1 reward:risk ratio.

I show these examples and historical updates to help you see that following simple rules can lead to good potentially great profits. Learn to trade the Hawkeye way.

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