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ShadowTrader Free Trade Idea of the Week – TSLA – Long…

Each week Peter and his minions scour the markets to find the best equity and forex setups for the followers of the Swing Trader and FX Trader. Premium subscribers get 2-5 of these daily. Every weekend we present one trade idea from either the equity or the forex side here.Note: Free weekly trade ideas are strictly DIY (do it yourself!) and are not actively managed or updated once presented and may or may not be stocks that are currently in play in our newsletters. For a more “full service” feel, with real-time email alerts and updates, please check out the ShadowTraderPro Swing Trader and ShadowTraderPro FX Trader.

Tesla Motors, Inc. (TSLA) – Long
Entry – 203.10
Stop – 197.20
1st Target – 213.70

2nd Target – 222.00

TSLA closed with strength on Friday above both the descending trendline that originates from the 04/07/16 high, and the support level that was tested during the last three trading days.

Resistance becomes more limited just over last week’s highs which is where the long entry level is noted (203.10).

Prior swing highs mark the first target level around 213.70.  A break through this level by TSLA brings the second target level at 222.00 into play.

For an average of 2-5 trade ideas like this every day along with daily market analysis and trading guidance, follow the ShadowTraderPro Swing Trader. This service is now available for FREE. All you have to do is click on “Tools” tab on your TOS platform or go to www.MyTrade.com and “follow” ShadowTraderPro Swing Trader.


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