Tesla - Clear flag formation!
Updated
Hello Traders and Investors, today I will take a look at Tesla.
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Explanation of my video analysis:
After the triangle breakout and the bullish break and retest on Tesla stock back in 2020, we saw a significant rally of 1.500% towards the upside. For 3 years Tesla has now been trading in a decent bullish flag formation and just broke an important support area towards the downside. However at the moment Tesla is literally in no man's land so it is better to wait for the next retest of structure.
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Keep your long term vision,
Philip (BasicTrading)
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Explanation of my video analysis:
After the triangle breakout and the bullish break and retest on Tesla stock back in 2020, we saw a significant rally of 1.500% towards the upside. For 3 years Tesla has now been trading in a decent bullish flag formation and just broke an important support area towards the downside. However at the moment Tesla is literally in no man's land so it is better to wait for the next retest of structure.
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Keep your long term vision,
Philip (BasicTrading)
Note
Seems like Tesla is still heading to $120, a major previous support level.From there we could look for longs, until then it is best to wait...
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💰|Stocks, Cryptos, Indices, Metals
💶|Keep your long term vision
👇🏻|Free "Trading Newsletter"
basictrading.net
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