TSLA: The Battery Day is here. How to proceed?
Hello traders and investors! Battery Day is here, and so far, Tesla is doing nothing impressive. In fact, the bull trend just got weaker after it lost its purple trend line in the hourly chart. But maybe today’s event will bring something new!
The situation still didn’t change, and we have two important points to keep in mind, which are these two red lines. As long Tesla keeps trading between these points, nothing interesting will happen. For now, it is trading under the 21 ema, which is not good for the stock, as it shows it lacks strength in the short-term.
The daily chart will offer us some interesting insights:
Tesla just hit its 21 ema, and although yesterday’s candlestick is quite impressive, we saw a similar movement on several tech stocks, so it wasn’t exclusive to Tesla, or solely related to Battery Day.
Of course, we may see some volatility, but regardless of what happens, the two red lines continue here to guide us. If Tesla breakout the $ 461, it could lead the stock to its All Time High.
If Tesla loses the $ 408, we will see a sharper pullback, and the $ 359 is a natural target for it.
But, since Tesla lost its purple trendline in the hourly chart, the bullish momentum starts to lose strength. Let’s see if today’s event will bring something new for Tesla, by triggering one of these points.
And if you liked this analysis, please, support it! And follow me to keep in touch with my ideas. Every day, I share a few thoughts with you, and I’m sure you’ll find something interesting around.
On the bright side, the trend in the daily chart is still bullish, so let's hope the volatility won't ruin the trend.
Take care
The situation still didn’t change, and we have two important points to keep in mind, which are these two red lines. As long Tesla keeps trading between these points, nothing interesting will happen. For now, it is trading under the 21 ema, which is not good for the stock, as it shows it lacks strength in the short-term.
The daily chart will offer us some interesting insights:
Tesla just hit its 21 ema, and although yesterday’s candlestick is quite impressive, we saw a similar movement on several tech stocks, so it wasn’t exclusive to Tesla, or solely related to Battery Day.
Of course, we may see some volatility, but regardless of what happens, the two red lines continue here to guide us. If Tesla breakout the $ 461, it could lead the stock to its All Time High.
If Tesla loses the $ 408, we will see a sharper pullback, and the $ 359 is a natural target for it.
But, since Tesla lost its purple trendline in the hourly chart, the bullish momentum starts to lose strength. Let’s see if today’s event will bring something new for Tesla, by triggering one of these points.
And if you liked this analysis, please, support it! And follow me to keep in touch with my ideas. Every day, I share a few thoughts with you, and I’m sure you’ll find something interesting around.
On the bright side, the trend in the daily chart is still bullish, so let's hope the volatility won't ruin the trend.
Take care
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