So Based on previous analysis the thesis is we would drop down however this did not occur. With the new thesis we are seeing possible 5 scenarios take shape plus one which is Tesla takes off like a rocket and makes higher highs: however unless confirmed on the Weekly I dont see that being likely as of yet. Currently the 235-238 area is what I am more leaning...
Based on the analysis I see the trend for Tesla correcting to one of 3 levels then going back down with my original thesis. However if the market breaks above the weekly high this would disprove my original thesis and then the trend of this market has changed from Bearish to Bullish. What are your thoughts? Comments leave them below MB Trader
Time for a Tesla Correction, reasons: Hit first target (drawn when Tesla was at 280.-) Weekly Hammer Candle Followed by a Weekly Doji Candle TD 9 in Weekly Chart Buy Zone appx. 450-500$: Old Channel Resistance 0.382 Fibonacci 50 ema