TSLA: Dangerous Top Signal.
• TSLA hit our target area last Friday, around $177, and it is now triggering a Bearish Engulfing candlestick pattern on the daily chart. I mentioned this target on our previous TSLA analysis – link below this post;
• The problem is that TSLA triggered this Bearish Engulfing under the $177 resistance, and it is back under the 21 ema as well, indicating that TSLA is very weak at the moment;
• On the daily chart, the next support area is around $154 (black line).
• On the 1h chart, there’s a short-term support line at $165, which was a previous resistance level;
• Below this support, there’s an open gap at $161, and another support line at $158. For now, it appears the $165 line is our main support level, as TSLA is trying to react this morning.
I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
• The problem is that TSLA triggered this Bearish Engulfing under the $177 resistance, and it is back under the 21 ema as well, indicating that TSLA is very weak at the moment;
• On the daily chart, the next support area is around $154 (black line).
• On the 1h chart, there’s a short-term support line at $165, which was a previous resistance level;
• Below this support, there’s an open gap at $161, and another support line at $158. For now, it appears the $165 line is our main support level, as TSLA is trying to react this morning.
I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
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