TSLA: Very Dangerous Situation.
• TSLA is still dropping, and although it is in a support area, there’s no bullish reaction confirming a bottom sign yet;
• The key support is the $187, which is the baseline of a this congestion, and if TSLA loses it, we might see a bearish reversal structure;
• What’s more, the $187 could be the neckline of a Head & Shoulders chart pattern;
• If TSLA turns bearish, I see it filling the previous gap at $146 in the next few weeks;
• In order to avoid this scenario, TSLA would have to do a very good bullish reaction as soon as possible, and break its main resistance area;
• The main resistance area on TSLA is made by 3 resistances that are very close to each other: In the 1h chart, there’s the 21 ema and the purple trend line connecting the previous tops; In the daily chart, there’s the 21 ema. Only if TSLA breaks this resistance area we would see a frustration of this bearish thesis.
Remember to follow me to keep in touch with my daily analysis!
• The key support is the $187, which is the baseline of a this congestion, and if TSLA loses it, we might see a bearish reversal structure;
• What’s more, the $187 could be the neckline of a Head & Shoulders chart pattern;
• If TSLA turns bearish, I see it filling the previous gap at $146 in the next few weeks;
• In order to avoid this scenario, TSLA would have to do a very good bullish reaction as soon as possible, and break its main resistance area;
• The main resistance area on TSLA is made by 3 resistances that are very close to each other: In the 1h chart, there’s the 21 ema and the purple trend line connecting the previous tops; In the daily chart, there’s the 21 ema. Only if TSLA breaks this resistance area we would see a frustration of this bearish thesis.
Remember to follow me to keep in touch with my daily analysis!
⚠️ Want to take your trading to the next level?
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
Related publications
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.