Get in Formation with this Lego on Steroids


Hey Trader,

Shoutout to all the rockstars who rocked our Open House last Friday! 

We bagged a sweet unofficial trade in an automotive name and the bombshell move in the last hour blew the Closers’ socks off!!

On my way home Friday, a wild Cybertruck appeared, and I had to check TSLA's chart as soon as I got back to my desk…

And boy… the volume profile didn’t disappoint…

Here’s the volume profile breakdown in TSLA…plus how to trade one of my favorite formations: the pennant…

After the Close on Friday I couldn't wait to get back to Casa d' Voz and kick back after a trading packed work week. 

Video games? Spa Night? Happy Hour? Oh the possibilities. But that mindset quickly came to an end as I came across THIS behemoth in the parking lot. 

This is the first time I've seen a Cybertruck in person. It looks like a Lego on a high protein diet. Like we're talking WHEY here. Whatever the case is, the TESLA spotting made me do a 180 back to money mindset. Was this a sign to look deeper into Tesla Inc (NASDAQ: TSLA) after it got chewed up the past couple months?

Looking at the chart, I can see a gorgeous volume profile setup…

Tesla is in fact getting some wings here. TSLA recently consolidated TIGHTLY into a pennant, and it happened to show a beautiful breakout on Monday. 

You may have heard the old adage on Wall Street "gaps get filled!'' Well this is a perfect example. 

TSLA was already in a free fall, and the earnings EPS and Revenue misses didn't help. The stock GAPPED down from 207 to 189. 

This 20 point drop gave us a golden opportunity to go long, as TSLA proved its bullishness by reclaiming this lost territory. 

One of my favorite tricks for pennants…  Measure the widest part of the pennant, and then attach it to the breakout area. That measurement will give you the suggested upside target after the breakout. Which behold - happens to the top of the gap target.

Congrats again to all our Trading Today readers who attended our Open House we had on Friday! 

There’s nothing like trading live! I love when traders can check out how fun our show is! 

If you missed out - you can still check out our live Trade to Close show this week — every day at 3:00 pm ET — with this free trial.

See you next time.

Always be closing,

Olivia Voz