TSLA Tesla is in a daily downtrend however we've seen a convincing bounce off the 0.382 fibonnaci level & reclaimed the 20MA which is a very promising sign, the 12EMA has been a brilliant weekly support since April 2020 however this is now being tested as resistance the past couple of weeks. The 50MA is perfectly aligned with the 0.5 fibonacci level which will act as strong support with the S/R flip if we see continued downside, this will be my main area of interest.#1 Bids - $442-$472 (0.5 Fibonacci, 50MA & Strong Support/Resistance flip)
#2 Bids - $342-$371 (Golden Pocket)
The safer entry would be waiting for a confirmed daily trend change confirming the weekly higher low, however long term
TSLA will undoubtably be a very profitable investment at the above levels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.