$TSLA's macro cup-and-handle pattern ahead of split

15 Agu 2022

TSLA managed a classic reversal on Friday as it reclaimed $857.50 for a move above $900. The overall chart pattern looks like a cup and handle which will trigger above $915-930 for a move past $1000. See if it absorbs early weakness today and manages to stay above $890 in order to keep this pattern intact. We are long calls for this week and for mid-September in case this pattern materializes. The stock splits on Friday. Elon Musk just announced a new milestone as the EV leader produced 3 million cars. See if poor Chinese data impacts the stocks this week or not!