TSLA: Dangerous Reaction in a "No Man's Land".
• TSLA did a Bearish Engulfing candlestick pattern yesterday, and it is back to its 21 ema area;
• If TSLA loses this 21 ema, it could seek the next support at $187 again;
• TSLA is still in a congestion, and only a breakout of the $187 would reverse the bullish sentiment;
• On the other hand, it has to break the previous resistance at $214 in order to trigger this Bullish Flag and seek higher levels;
• So far, TSLA is in a ”no man’s land”, and any reaction inside this congestion shouldn’t be taken too seriously;
• What if TSLA loses the $187? Then the next target would be the gap around $146;
• TSLA is dangerously close to its support level, and the way it reacts in this area might dictate if we’ll see a downwards breakout or a bullish continuation to the resistance at $214. Either way, we’ll have our answer soon. I'll keep you updated every day on this.
Remember to follow me to keep in touch with my daily analysis!
• If TSLA loses this 21 ema, it could seek the next support at $187 again;
• TSLA is still in a congestion, and only a breakout of the $187 would reverse the bullish sentiment;
• On the other hand, it has to break the previous resistance at $214 in order to trigger this Bullish Flag and seek higher levels;
• So far, TSLA is in a ”no man’s land”, and any reaction inside this congestion shouldn’t be taken too seriously;
• What if TSLA loses the $187? Then the next target would be the gap around $146;
• TSLA is dangerously close to its support level, and the way it reacts in this area might dictate if we’ll see a downwards breakout or a bullish continuation to the resistance at $214. Either way, we’ll have our answer soon. I'll keep you updated every day on this.
Remember to follow me to keep in touch with my daily analysis!
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