TSLA: Dead Cat Bounce or not? Key Points to watch from here!
• TSLA is going up nicely, as we expected since our previous analysis on it. We nailed the bottom at $110, and now it seems it is just heading to the next resistance at $126 (the link to my previous analysis is below this post, as usual);
• In the 1h chart, we see that TSLA corrected since it hit $123. This is acceptable, but it must not too much from here, otherwise, it might ruin our thesis that it’ll hit the $126, and just resume the bear trend (which is still extremely strong, by the way);
• In addition to the $126, there’s a trend line in the 1h chart, connecting the previous top levels, and this could work as a resistance as well;
• Only if TSLA breaks this trend line and the $126, it might have some chance of bouncing to higher levels, like the 21 ema in the daily chart - otherwise, it is just a Dead Cat Bounce;
• The situation is still delicate on TSLA, but let’s watch these key points carefully from now on. I'll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
• In the 1h chart, we see that TSLA corrected since it hit $123. This is acceptable, but it must not too much from here, otherwise, it might ruin our thesis that it’ll hit the $126, and just resume the bear trend (which is still extremely strong, by the way);
• In addition to the $126, there’s a trend line in the 1h chart, connecting the previous top levels, and this could work as a resistance as well;
• Only if TSLA breaks this trend line and the $126, it might have some chance of bouncing to higher levels, like the 21 ema in the daily chart - otherwise, it is just a Dead Cat Bounce;
• The situation is still delicate on TSLA, but let’s watch these key points carefully from now on. I'll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
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