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TSLA 7D chart UPDATE POST SPLIT / FED NEWSTSLA as shown on the weekly chart has hit the top of a megaphone pattern ( increasing volatility) where it printed a Doji candle to demarcate a reversal while the relative strength topped out testing its Ichimoku Cloud but failing. The ADX has little magnitude ( distance from zero) nor rate of change ( momentum) and is now pointing downward. All in all, TSLA on the weekly chart is at a bearish inflection in the context that TESLA has put out more news about impending layoffs.
NASDAQ:TSLAShort
by AwesomeAvani
2
TSLA SHORT NASDAQ:TSLA TSLA on the 4 hour chart appears to be in a downtrending parallel channel and presently at the upper resistance boundary of the channel. This could also be a megaphone pattern as the channel is widening a bit as it descends. I see the horizontal resistance of February 2021 market high as resisting any breakout to higher prices. I see horizontal support below at 190 from the market lows in March and May this year. The MACD oscillator is in mid-range as is the RSI oscillator. The latter shows some bearish divergence suggesting an impending reversal. I see this as a short setup to synergize with the general market the downturn from the current market price to 190 or until just before the earnings report in mid-October. This is about $100 of profit I will set a stop loss of $5 above the current market price Thid is a great reward-to-risk ratio even if the price gets jammed up at Fibonacci retracement levels on its way down. The low-costTR bearish ETF is a consideration as are out of the money put options.
NASDAQ:TSLAShort
by AwesomeAvani
TSLA SHORT now SETUPNASDAQ:TSLA TSLA has hit heavy resistance on the 2H chart as it came up on the heavy sell order zone and the POC of the volume profile TSLA reacted with Doji candles demonstrating buyer versus seller push and pull dynamics The RSI is decreasing with a rise in price showing divergence and suggesting TSLA is about to roll over. The Choppiness Indicator is still moderately elevated showing buyer. seller action is sideways. All in all, I forecast that TSLA is set up to short ( or via put options ) with targets of 790 and 705. For a great reward-to-risk ratio, the stop loss can be $1.00 above the top of the sell order zone. Please review and offer your opinion in a comment ! ( As an aside take a look at my idea of Sell Tesla Buy Ford using a TSLA / F ratio over time as the key data for the analysis)
NASDAQ:TSLAShort
by AwesomeAvani
BREAKING NEWS The Real Estate and Banking Crisis in China! The Real Estate and Banking Crisis in China Is Spreading to Other Aspects of the Chinese Economy! A lot of information is coming out that the Citizens can't get any money from their banks. We have seen that before! Never ends very well. Apart from China's problems, Tesla has been experiencing problems in China. 1. The cameras on the Cars, that they can't be used anymore. China thinks they could SPY on Them! Good luck with a Tesla without cameras ¿? 2. Tesla reduced vehicle production at its Shanghai factory this week due to parts shortages caused, in some measure, by a supplier's Covid lockdown nearby. According to research by JL Warren Capital, Tesla specifically stopped production lines for its crossover electric vehicle, the Model Y, at its Shanghai Gigafactory 3. Tesla faced multiple accusations of brake failure in China 4. China helps NIO to become the number one Electric Car for sure. Made in China is always better for the Chinese Government. 5. China and USA aren't getting closer because of the Ukrainian War and Nancy Pelosi's visit to Taiwan.
NASDAQ:TSLAShort
by TraderMentorX