TSLA
Tesla
-- 418.100 AVGO
Broadcom
-- 180.660 NVDA
NVIDIA
-- 137.340 PLTR
Palantir
-- 73.200 ADBE
Adobe
-- 474.630 
Breaking ATH of $414
$Tesla (TSLA.US)$ A gamma squeeze in real time. This stock is literally on fire and reaching $430 post-market.
There are literally no resistance levels in its path now that it has cleared the $414 level
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Jooooohn : So hold?
SwIngVestor OP Jooooohn : We can play both sides of the potential outcome for Tesla.
1. Hold: Because Tesla has breached ATH, there are no major resistance in its way except for a rising channel that I've marked at $518 price target (which would imply a 20% upside from here on). With the small volume profile, small amount of buyers and sellers will be enough to swing this stock massively in either direction. But with many institutions realising the potential of FSD and autonomous driving, it seems like the bull case for Tesla is really strong at the moment. With Trump heading into the WH next year, and short sellers having to cover, I do not see any major news that would upset the bullish thesis for TSLA. So new ATH could be achieve.
2. Sell: Not because I am bearish on this stock, but I am also aware that based on the principle of regression to the mean, this stock will probably need to retrace back to some previous level of support before continuing its way up to new ATH. Base on Elliot 5 wave analysis, this could be our 3rd wave and our 4th would likely see a minor correction back to the 300s level (mid-high 300s).
So to answer your question, I would actually be cautious on leaning towards a buy or sell conviction, as anything can happen to this stock. We are essentially trading on its future prospects, and as long as the street consensus is positive on this stock, then nothing is stopping it from propelling higher towards $500 and beyond.
NFA