TSLA: Bear Trap.
• The rally persists on TSLA, and today, it almost rejected completely last week’s Evening Doji Star candlestick pattern;
• In order to reject this bearish pattern / top sign, TSLA has to break $214 – today it hit $213.98 - and in this case, TSLA would trigger a Bear Trap (a complete rejection of the previous bearish sign after triggering it);
• We are almost there, and TSLA still could break it – but it must not take too long, otherwise, the market may see a possible Double Top in this area;
• What could make TSLA correct from here? If it loses the purple trend line seen in the 1h chart. Only then the bullish bias will get weaker;
• So far, there’s top sign, and no clear bearish structure on TSLA, but I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
• In order to reject this bearish pattern / top sign, TSLA has to break $214 – today it hit $213.98 - and in this case, TSLA would trigger a Bear Trap (a complete rejection of the previous bearish sign after triggering it);
• We are almost there, and TSLA still could break it – but it must not take too long, otherwise, the market may see a possible Double Top in this area;
• What could make TSLA correct from here? If it loses the purple trend line seen in the 1h chart. Only then the bullish bias will get weaker;
• So far, there’s top sign, and no clear bearish structure on TSLA, but I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
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