TSLA: It must react quickly!

٩ يونيو ٢٠٢١

Hello traders and investors! Let’s see how Tesla is doing today!

Ok, Tesla did exactly what it was supposed to do, since our last analysis. It lost the $ 595.81, and it hit our target around the $ 570. If you missed our previous analysis, check the link below.

Now, we are doing a short-term congestion, near the 21 ema and the green line at $ 600 (previous top). If this point doesn’t hold Tesla, then the $ 582 is the next target.



In the daily chart, Tesla did defeat the purple trendline we talked about last week, but it failed in closing above it. Therefore, it was a false breakout, and we need a stronger reaction to make Tesla fly again.

There is still hope for Tesla, but the fight is not going to be easy. In order to make a stronger pattern, we must see a good reaction in the 1h chart, and if the volume increases, it’ll be even better.

For now, all we can assume is that the bearish sentiment is prevailing in the daily chart, and as long as we don’t see a good bullish candlestick around, it’ll remain bearish.

Let’s see if Tesla will react and close above this purple trendline! If you liked this analysis, follow me to keep in touch with my daily updates, and support this idea if it helped you!

Thank you very much!