TSLA: CRASHING! What to expect next? (key points UPDATED).
• TSLA is still in a clear bear trend, doing lower highs/lows, trading below the 21 EMA;
• What’s more, there’s a trend line connecting the previous top levels on TSLA since Dec 09 (1h chart);
• The key support is $104. Although TSLA lost this support for a brief moment today, if it closes above it again it might avoid a further correction for now;
• We mentioned this support level yesterday. The link to my previous public analysis is below this post, as usual;
• The problem is the trend line, which is our main resistance level. Only if TSLA breaks this resistance it might have a chance to reverse and seek higher levels;
• What’s more, the 21 EMA is right at the trend line, making this a dual-resistance area.
• Let’s keep our eyes open at these key resistance/support levels for now. I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
• What’s more, there’s a trend line connecting the previous top levels on TSLA since Dec 09 (1h chart);
• The key support is $104. Although TSLA lost this support for a brief moment today, if it closes above it again it might avoid a further correction for now;
• We mentioned this support level yesterday. The link to my previous public analysis is below this post, as usual;
• The problem is the trend line, which is our main resistance level. Only if TSLA breaks this resistance it might have a chance to reverse and seek higher levels;
• What’s more, the 21 EMA is right at the trend line, making this a dual-resistance area.
• Let’s keep our eyes open at these key resistance/support levels for now. I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
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