TSLA: TRAP ZONE! 👀
• TSLA is still trading inside a “Trap Zone”, between the support level at the 21 EMA, and the resistance level under $123. Since the 21 EMA keeps climbing, it’ll squeeze the price in a tighter range as time passes, and soon, it’ll have to do a breakout;
• If TSLA does a downwards breakout, and loses the 21 ema, probably it will seek the 61.8% Fibonacci’s Retracement again (at least);
• This could be the bullish reversal structure that could reverse the bearish sentiment we mentioned in our previous public study on TSLA – link below this post;
• Since TSLA broke the purple trend line, it seems it wants to reverse the trend. Either way, a confirmation would only come if TSLA breaks the $123;
• In case of an upwards breakout, TSLA could seek the 21 EMA in the daily chart, or even one of the retracements, as seen on the chart below:
• It all depends on how it’ll react after a breakout from the Trap Zone in the 1h chart. I’ll keep you updated on this, as usual.
Remember to follow me to keep in touch with my daily analyses!
• If TSLA does a downwards breakout, and loses the 21 ema, probably it will seek the 61.8% Fibonacci’s Retracement again (at least);
• This could be the bullish reversal structure that could reverse the bearish sentiment we mentioned in our previous public study on TSLA – link below this post;
• Since TSLA broke the purple trend line, it seems it wants to reverse the trend. Either way, a confirmation would only come if TSLA breaks the $123;
• In case of an upwards breakout, TSLA could seek the 21 EMA in the daily chart, or even one of the retracements, as seen on the chart below:
• It all depends on how it’ll react after a breakout from the Trap Zone in the 1h chart. I’ll keep you updated on this, as usual.
Remember to follow me to keep in touch with my daily analyses!
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