TESLA: triangle time

TESLA: triangle time

2020-10-08 • Updated

It’s time to test our technical tools. Do you remember the triangle chart formation? If you don’t, here is the link, with the other triangles and chart shapes – just in case you want to refill your arsenal. Well, here we definitely have a triangle. So let’s set our trades to test it. How do we do that?

The base of the triangle is the level of 450 – it’s the flat horizontal side that works as resistance. Since the end of August, the stock price has never stepped over it. In the meantime, the lows have been coming closer and closer to the upside and formed an upward-sloped side of the triangle. Eventually, 450 is the level where both sides converge, and the breakout is expected to happen. As this is an ascending triangle, bulls are supposed to take over eventually, so 500 would be the target in this case.

Therefore, prepare your positions. First, watch the crossing of 450 upwards. If it happens, the bullish breakthrough scenario should be gaining momentum. Once it happens, be ready to buy above 450 to close at 500.

Otherwise, in a less likely case of bounce downwards, 400 will be crossed first. If the bearish move goes hardcore, it may reach the depths of 330 again.


Don't know how to trade stocks? Here are some simple steps.

  1. First of all, be sure you’ve downloaded Metatrader 5. FBS allows you to trade stocks only through this software.
  2. Open the MT5 account in your personal area.
  3. Reveal all trading instruments by clicking “show all” at the “Market Watch” window.
  4. Start trading!

                                                                                                     LOG IN


Best Stocks to Buy in April! 
Best Stocks to Buy in April! 

As April approaches, investors are searching for good opportunities in the stock market. There are two booming industries that look positive in the coming period; electric vehicle (EV) stocks and banking stocks.

Latest news

Walmart earnings outlook
Walmart earnings outlook

Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera