When might Tesla look BULLISH again?
We have to be patient and watch price action.
Based on longer term trendline support, exhibited as purple, TSLA has a good chance of holding above $700, but wont look bullish technically until it gets back above $770.
Further down side and resistance will be seen as it struggles to get above the yellow trendline resistance, but once it does, will likely go sideways to create more support and test resistance before building more confidence to go higher.
i.e. consolidate above yellow trendline resistance, below 770 until enough time garners for testing all time highs again.
Based on longer term trendline support, exhibited as purple, TSLA has a good chance of holding above $700, but wont look bullish technically until it gets back above $770.
Further down side and resistance will be seen as it struggles to get above the yellow trendline resistance, but once it does, will likely go sideways to create more support and test resistance before building more confidence to go higher.
i.e. consolidate above yellow trendline resistance, below 770 until enough time garners for testing all time highs again.
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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.