TSLA: This is what we must know about it!
Hello traders and investors! Let’s see how Tesla is doing today!
First, yes, we have an accumulation around, and Tesla is trading inside a range between the two black lines. Only a breakout from any of these lines will tell us what Tesla will do next. It seems the $ 571 is a support in the short-term, while the $ 635 is another resistance.
But the daily chart has an interesting pattern too:
We have a Triangle pattern, which is a continuation pattern, but this is not a rule. We see that the volume is higher during the bullish days, and lower during the bearish ones.
Yesterday, Tesla hit its support and now it is about to react. If it does an upwards breakout it’ll probably reverse the trend for good, and defeat the $ 635.42 and seek the $ 715 again. Remember that we have a gap at $ 733, and so far, TSLA filled every single one of its gaps that appeared above the price.
But if Tesla does a downwards breakout I see it at $ 538 again. For now, I’m not working with the possibility of it losing this floor.
TSLA is in a quite decisive moment! Remember to follow me to keep in touch with my updates, and support this idea if it helped you!
Thank you very much!
First, yes, we have an accumulation around, and Tesla is trading inside a range between the two black lines. Only a breakout from any of these lines will tell us what Tesla will do next. It seems the $ 571 is a support in the short-term, while the $ 635 is another resistance.
But the daily chart has an interesting pattern too:
We have a Triangle pattern, which is a continuation pattern, but this is not a rule. We see that the volume is higher during the bullish days, and lower during the bearish ones.
Yesterday, Tesla hit its support and now it is about to react. If it does an upwards breakout it’ll probably reverse the trend for good, and defeat the $ 635.42 and seek the $ 715 again. Remember that we have a gap at $ 733, and so far, TSLA filled every single one of its gaps that appeared above the price.
But if Tesla does a downwards breakout I see it at $ 538 again. For now, I’m not working with the possibility of it losing this floor.
TSLA is in a quite decisive moment! Remember to follow me to keep in touch with my updates, and support this idea if it helped you!
Thank you very much!
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