TSLA: Finally hit $126! Next Key Support/Resistance levels!
• TSLA finally hit our target at $126;
• So far, there’s no technical bullish reaction indicating a bottom or that TSLA will bounce/reverse;
• In this case, the next support level to aim is the $110, as evidenced on the weekly chart above;
• However, if we see a bullish structure just above the $126 support, TSLA has the potential to bounce and seek higher levels – this wouldn’t reverse the main bear trend, but could be the beginning of a reversal;
• If it reacts, there are many resistances on TSLA that we should be aware, like the 21 ema in the daily chart, the red trend line, the $166 (previous bottom in the daily chart), and the $155 (previous resistance in the weekly chart);
• Clearly, it won’t be easy for TSLA, as the trend is extremely bearish. Let’s just pay attention to these key points for now. I’ll keep you updated.
Remember to follow me to keep in touch with my daily analyses!
• So far, there’s no technical bullish reaction indicating a bottom or that TSLA will bounce/reverse;
• In this case, the next support level to aim is the $110, as evidenced on the weekly chart above;
• However, if we see a bullish structure just above the $126 support, TSLA has the potential to bounce and seek higher levels – this wouldn’t reverse the main bear trend, but could be the beginning of a reversal;
• If it reacts, there are many resistances on TSLA that we should be aware, like the 21 ema in the daily chart, the red trend line, the $166 (previous bottom in the daily chart), and the $155 (previous resistance in the weekly chart);
• Clearly, it won’t be easy for TSLA, as the trend is extremely bearish. Let’s just pay attention to these key points for now. I’ll keep you updated.
Remember to follow me to keep in touch with my daily analyses!
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