TSLA at Crossroads – Breakout or Breakdown?

Tesla ( $Tesla Motors(TSLA)$ ) (1-Hour Chart)

Tesla is currently consolidating in a symmetrical triangle pattern following its recent sharp rebound from near US$280 support. Price is now fluctuating between narrowing highs and lows, indicating reduced volatility and a possible breakout setup.

• Immediate Resistance: US$360

• Immediate Support: US$280

• Current Pattern: Symmetrical triangle, often associated with continuation or reversal depending on breakout direction

A breakout above the triangle may indicate further upside continuation toward the US$360 level, while a breakdown may see the stock retest lower support levels closer to US$280.

Using Daily Leverage Certificates (DLCs) for Short-Term Trading

DLCs listed on SGX offer leveraged exposure to Tesla’s intraday price movement. Traders monitoring this triangle pattern may use:

• Long DLCs ( $TESLA 3xLongSG261006(TSYW.SI)$ ) to gain leveraged exposure if price breaks above the upper triangle boundary

• Short DLCs ( $TESLA 3xShortSG261006(TSXW.SI)$ ) if price breaks below the lower triangle boundary, suggesting a potential pullback

DLCs are designed for short-term trading and may not be suitable for holding over multiple days due to daily rebalancing effects. Always assess product specifications and market conditions before use.

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Disclaimer: 

This document is not an offer or solicitation to buy or sell, nor financial advice or recommendation for any investment product. This document has been published for general circulation only. 

This advertisement has not been reviewed by the Monetary Authority of Singapore. This post is sponsored by Societe Generale, Singapore Branch. The content of this article does not form part of any offer or invitation to buy or sell any daily leverage certificates (the “DLCs”), and nothing herein should be considered as financial advice or recommendation. The price may rise and fall in value rapidly and holders may lose all of their investment. Any past performance is not indicative of future performance. Investments in DLCs carry significant risks, please see dlc.socgen.com for further information and relevant risks. The DLCs are for specified investment products (SIP) qualified investors only.