Monday, August 21, 2017

Mark Leibovit takes a look at TSLA

From the desk of Top Market Timer Mark Leibovit:

TESLA -TSLA has been a great trading vehicle for quite some time, but in recent weeks we honed in on  the short-side a couple of times using my Volume Reversal tool as a guide.

Here are the general guidelines.  The chart is simple. It displays the 50 day moving average in blue, the 200 day moving average in green, my VR chart and a 5/3/3 stochastic.  The volume bars at the bottom are color coded to match the VR chart.  As a general rule, I use a rising 5/3/3 stochastic as confirmation of a Positive Leibovit Volume Reversal and a declining 5/3/3 stochastic as confirmation of a Negative Leibovit Volume Reversal.  

On June 26, a Negative Leibovit Volume Reversal and a declining 5/3/3 stochastic perfectly intersected setting up a short-sale or put buying opportunity.  If you scan the chart, you will notice good correlation between the Negative and Positive signals and subsequent price action.  We even look at the weekly chart.  Pretty good correlation there too!  Check it out.

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