TSLA: Bullish reaction above our TARGET! What's next?
• TSLA hit our target at $110, as we discussed in our previous analysis, last week (link below this post, as usual);
• Today, it seems we have some reaction, which is expected. It is very rare to see TSLA dropping 7 days in a row (actual drops, not only bear candlesticks). To be honest, I don’t recall seeing 7 drops in a row on TSLA. If this ever occurred, must be a long time ago;
• If TSLA confirms this reaction, any bounce on TSLA would have to face the next resistance at $126. In addition, any bounce would be just a Dead Cat Bounce, as there’s no clear bullish reversal structure on TSLA – it is still doing lower highs/lows. Meaning, a top sign under a resistance would be just an opportunity to sell;
• In addition to the $126, we see the red trend line connecting the previous top levels, which is another resistance, along with the 21 ema;
• What if TSLA loses this support at $110? The next technical support is the $91.
• Let’s pay attention to this reaction and see where it can take us. I’ll keep you updated on this, as usual.
Remember to follow me to keep in touch with my daily analyses!
• Today, it seems we have some reaction, which is expected. It is very rare to see TSLA dropping 7 days in a row (actual drops, not only bear candlesticks). To be honest, I don’t recall seeing 7 drops in a row on TSLA. If this ever occurred, must be a long time ago;
• If TSLA confirms this reaction, any bounce on TSLA would have to face the next resistance at $126. In addition, any bounce would be just a Dead Cat Bounce, as there’s no clear bullish reversal structure on TSLA – it is still doing lower highs/lows. Meaning, a top sign under a resistance would be just an opportunity to sell;
• In addition to the $126, we see the red trend line connecting the previous top levels, which is another resistance, along with the 21 ema;
• What if TSLA loses this support at $110? The next technical support is the $91.
• Let’s pay attention to this reaction and see where it can take us. I’ll keep you updated on this, as usual.
Remember to follow me to keep in touch with my daily analyses!
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