TSLA: Expanding Channel Signals Critical Juncture
TSLA is currently exhibiting a prominent expanding channel on the weekly timeframe. The price is nearing the weekly resistance, which also coincides with the upper boundary of the expanding channel. At this juncture, two scenarios are possible. Firstly, if the price adheres to the resistance level and the upper boundary, we can anticipate a downward movement, leading to a potential market downturn. Conversely, should the price exhibit a bullish breakout above the resistance and upper boundary, we can expect the rally to continue with renewed momentum.
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.