TESLA - Broken MAJOR Trendlines and a rough Battle Ahead.
Updated
Details provided on chart.
Basically - Tesla is showing signs of downtrend momentum.
Broken month and Weekly trendlines, bounced off major reversal zones with fibonacci, and things aren't looking to shabby for short term growth.
Wouldn't be a "Safe" purchase until breaks back above trend line.
could see it retracing to the 274-285 area but would touch it until its over 311 area with a retest and respect of market structure.
You're Gambling until then - as even with fundamental analysis things aren't looking all too gravy.
Basically - Tesla is showing signs of downtrend momentum.
Broken month and Weekly trendlines, bounced off major reversal zones with fibonacci, and things aren't looking to shabby for short term growth.
Wouldn't be a "Safe" purchase until breaks back above trend line.
could see it retracing to the 274-285 area but would touch it until its over 311 area with a retest and respect of market structure.
You're Gambling until then - as even with fundamental analysis things aren't looking all too gravy.
Trade active
Note
Please ignore this analysis - my charting came out all sorts of funky - will be reposting separate idea that is easier to read.
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