TSLA: On a decisive moment!
Hello traders and investors! Let’s see how Tesla is doing today!
Ok, Tesla hit our technical target at $ 626, but it seems we have a new resistance, at the $ 635.42. Now, Tesla dropped again to the red line, and it is the time for a reaction.
If Tesla confirms any bullish pattern around, it could seek the $ 635.42 again. But if Tesla loses the red line, it’ll probably seek other supports, like the $ 570.
When Tesla retested its 21 ema I wasn’t convinced by its movement, and now we can add this purple trendline as well. It won’t be easy for Tesla, but if it defeats this trendline and the $ 635.42 we’ll see a pivot point in the daily chart, which could lead to a mid-term reversal.
The volume has been low recently, which makes the stock vulnerable. We must wait for a better sign before jumping into any conclusion.
If you liked this analysis, remember to follow me to keep in touch with my daily studies, and support this idea if it helped you!
Thank you very much.
Ok, Tesla hit our technical target at $ 626, but it seems we have a new resistance, at the $ 635.42. Now, Tesla dropped again to the red line, and it is the time for a reaction.
If Tesla confirms any bullish pattern around, it could seek the $ 635.42 again. But if Tesla loses the red line, it’ll probably seek other supports, like the $ 570.
When Tesla retested its 21 ema I wasn’t convinced by its movement, and now we can add this purple trendline as well. It won’t be easy for Tesla, but if it defeats this trendline and the $ 635.42 we’ll see a pivot point in the daily chart, which could lead to a mid-term reversal.
The volume has been low recently, which makes the stock vulnerable. We must wait for a better sign before jumping into any conclusion.
If you liked this analysis, remember to follow me to keep in touch with my daily studies, and support this idea if it helped you!
Thank you very much.
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