TSLA Bearish Trend with Key Levels
Technical Overview:
- Support Levels:
Immediate support at $164 (61.8% Fibonacci retracement). Further support around $100.
- Resistance Levels:
Primary resistance near $260 (38.2% Fibonacci retracement).
- Moving Averages:
The daily 50MA is currently above the price, indicating a bearish sentiment.
- Volume Analysis:
Volume is relatively stable, but a decrease could indicate further bearish movement.
Outlook:
Tesla is currently within a descending channel, showing bearish tendencies. A breakdown below the $164 support could target $100.
Conclusion:
TSLA current bearish trend suggests a potential move down to $100, with key support at $164. Watch for volume changes and price action at these levels.
- Support Levels:
Immediate support at $164 (61.8% Fibonacci retracement). Further support around $100.
- Resistance Levels:
Primary resistance near $260 (38.2% Fibonacci retracement).
- Moving Averages:
The daily 50MA is currently above the price, indicating a bearish sentiment.
- Volume Analysis:
Volume is relatively stable, but a decrease could indicate further bearish movement.
Outlook:
Tesla is currently within a descending channel, showing bearish tendencies. A breakdown below the $164 support could target $100.
Conclusion:
TSLA current bearish trend suggests a potential move down to $100, with key support at $164. Watch for volume changes and price action at these levels.Note
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