Good morning my fellow Cryptocurrency trader, I hope you are having a wonderful day. If you decide to call me a genius or whatever... The choice is yours to make.
Here, the TSLA stock (Tesla) is showing some weakness signals. Weakness that can translate into a drop.
Would you like me to point those out?
Ok, we can go through a few of them real-quick.
1) A rising wedge pattern. Always bearish.
2) Decreasing volume. Always bearish.
3) Resistance being confirmed at the 19-February peak.
4) Bearish bat.
These are just a few of the chart signals but it is not only about the signals, there is something in the air... I smell... Huh, what to call it? A flash crash? A market shakeout? A flush? A surprise? Or simply, a retrace?
I don't know... All I know is one thing, TSLA doesn't look bullish anymore.
The chart is saying down.
Let's see what kind of event shows up to match the chart.
Namaste.
Here, the TSLA stock (Tesla) is showing some weakness signals. Weakness that can translate into a drop.
Would you like me to point those out?
Ok, we can go through a few of them real-quick.
1) A rising wedge pattern. Always bearish.
2) Decreasing volume. Always bearish.
3) Resistance being confirmed at the 19-February peak.
4) Bearish bat.
These are just a few of the chart signals but it is not only about the signals, there is something in the air... I smell... Huh, what to call it? A flash crash? A market shakeout? A flush? A surprise? Or simply, a retrace?
I don't know... All I know is one thing, TSLA doesn't look bullish anymore.
The chart is saying down.
Let's see what kind of event shows up to match the chart.
Namaste.
Trade active
A higher low wouldn't break the bigger bullish structure. There can be corrections and retraces within a rising trend.This is all normal market behavior.
Long-term, we can see growth.
Short-term, there can be a correction.
The correction can end in a higher low compared to 7-April. This would keep the bigger, long-term, bullish picture intact.
We can profit from the rise as well as from the swings and drops.
SHORTing is for advanced traders.
Leverage is for advanced traders.
Spot and investing is for passive participants.
Namaste.
Note
100% bearish short-term.The 4H candle closed with an upper shadow while trading at the bottom of the session.
There is a rounded top.
The lower trendline has been broken based on candle close and wick.
Seems to be going lower for sure.
Note
No change in the stock. The bearish bias is intact.Four days red.
Trade closed: target reached
We have almost a 20% drop so far, this is a huge.The bearish bias and this analysis has now been confirmed. Visit my profile for updates and an updated version of this publication.
When the bearish wave is over, Tesla (TSLA) will grow.
Namaste.
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🚨 FREE PREMIUM Trades + Top Results
t.me/anandatrades/1183
🚨 FREE Quality Content + New Results
(Frequent Discounts & Offers)
t.me/masteranandatrades/6172
🚨 Go beyond! PREMIUM LIFETIME Access
lamatrades.com (Since 2017)
t.me/anandatrades/1183
🚨 FREE Quality Content + New Results
(Frequent Discounts & Offers)
t.me/masteranandatrades/6172
🚨 Go beyond! PREMIUM LIFETIME Access
lamatrades.com (Since 2017)
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.