TSLA: The Key Points We Should Watch From Here.
• TSLA stock is trying to do a bullish reaction, after yesterday’s crash, but it is still under important resistance levels;
• As long as TSLA remains under the 21 ema + 186 (red line), no bullish scenario will materialize;
• Only if TSLA breaks these resistance levels we might see something new, otherwise, the bearish sentiment will persist and in this scenario, the 186 is our next target.
• In the daily chart, TSLA did a powerful bearish candlestick under the 21 ema;
• As mentioned before, the 176 is the next support level on it. If TSLA loses the 186, it’ll trigger a clear bearish pivot point, or even an inclined H&S chart pattern, indicating that the long-term trend will remain bearish;
• Therefore, the 176 is a critical support level, while the area around 186 is a critical resistance;
• On the other hand, if TSLA breaks the 186 area, we might see another rally;
• Last week TSLA did a Hammer candlestick pattern, which is a bullish reversal pattern 60% of the time, and hit its target around 88% of the time (Bulkowski, Encyclopedia of Candlestick Charts);
• It all depends on how TSLA will react around these key points from now.
I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
• As long as TSLA remains under the 21 ema + 186 (red line), no bullish scenario will materialize;
• Only if TSLA breaks these resistance levels we might see something new, otherwise, the bearish sentiment will persist and in this scenario, the 186 is our next target.
• In the daily chart, TSLA did a powerful bearish candlestick under the 21 ema;
• As mentioned before, the 176 is the next support level on it. If TSLA loses the 186, it’ll trigger a clear bearish pivot point, or even an inclined H&S chart pattern, indicating that the long-term trend will remain bearish;
• Therefore, the 176 is a critical support level, while the area around 186 is a critical resistance;
• On the other hand, if TSLA breaks the 186 area, we might see another rally;
• Last week TSLA did a Hammer candlestick pattern, which is a bullish reversal pattern 60% of the time, and hit its target around 88% of the time (Bulkowski, Encyclopedia of Candlestick Charts);
• It all depends on how TSLA will react around these key points from now.
I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
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