📈Trade Ideas & Setups 📈

Tesla's stock chart recently showcased the 'Abandoned Baby' pattern on its daily timeframe, a rare and often bullish reversal pattern. TSLA has seen a resurgence in its price. If it can break the Bearish Trendline and it’s 23.6% retracement level we like this for longs.

Currently, TSLA is trading above its 5-day Simple Moving Average (SMA). This is noteworthy as the stock hasn't been able to sustain above this level since its gap down post-earnings. Traders should keep a close eye on this level, as holding above the 5-day SMA could signal a potential change in trend and a move higher.

TJX, the retail giant, has been on a roll post its recent earnings, showcasing a gap up. Unlike many stocks that gap up and then reverse, TJX is showing signs of a 'Breakaway Gap.' This type of gap often signals the start of a new trend, and in this case, it appears bullish.

Currently, TJX is in the process of attempting to break out and make new highs after retesting its 5-day SMA. If it succeeds, this could be the start of a new bullish phase for the stock. Above the 5-day SMA we are targeting the profit levels shown on the chart below.

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