TSLA and VRX ready for a LONG ride. Price Action Analysis

TESLA and VRX is indicating a up trend in Price action analysis of charts

TSLA is trading at current price of 366.75. It has the potential to grow more than 10% in near term.

TSLA Daily Price Action Chart

TSLA is in the upward channel for a quite bit of time now. It has shown clear indication of breaking out from recent pull back. The nearest resistance is at 370. If it breaks that level, then there can be a rally towards 410. In case if it is rejected from 370, there can be a dip towards 353 or 347 levels. By keeping a Stop loss below 342, this is a definite opportunity to go long.

Stop Loss : 342
Target : 410


Valeant Pharmaceuticals is also showing potential up trend. It has broken recent downtrend line and ready for a big bounce from the channel baseline. Weekly chart also confirms there is a trend change to upwards. Where it has clearly made a higher high and a higher low, which is a clear indicator of up trend according to price action analysis.

VRX Weekly Price Action Chart

VRX Daily Price Action Chart

Near term resistances are at 15.08 and 15.95. Even if it reverses from these levels, it can get support from the upward parallel channel base. By keeping a stop loss at 12.90, we can look for a target of 21.50.

Stop Loss :12.90
Target : 21.50



One thought on “TSLA and VRX ready for a LONG ride. Price Action Analysis

  • January 30, 2018 at 7:24 pm

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