Tesla seems to have broken out of downward channel and has found support at anchored VWAP.
Two short term trade ideas depending on next coming days price action :
Bullish case : Break out of volume shelf at 722 , go long with 740 target.
Bearish case : More likely IMO given MACD and OBV looking for a retest of the channel. Break below VWAP of 692 go in short with 670 first target, with 640 being the next and retest, expect a bounce here or 630 and lower comes next.
Two short term trade ideas depending on next coming days price action :
Bullish case : Break out of volume shelf at 722 , go long with 740 target.
Bearish case : More likely IMO given MACD and OBV looking for a retest of the channel. Break below VWAP of 692 go in short with 670 first target, with 640 being the next and retest, expect a bounce here or 630 and lower comes next.
Note
nice rejection, following the path for a channel retest then next move up
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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.