Fibonacci overlay for Tesla with future predictions!
### Analysis Considering Bands:
1. **Lower Bands**:
- The lower bands (below the 0 level) are crucial for identifying support levels.
- TSLA has previously touched the lower bands around the 0.25 and 0.382 levels during its downtrend, showing these levels as strong supports.
2. **Upper Bands**:
- The upper bands (above the 0 level) will serve as potential resistance levels if the price continues to move upward.
- Currently, TSLA is near the 0.5 Fibonacci level, acting as immediate resistance.
### Key Levels:
1. **Lower Band Analysis**:
- **0.25 Level (~$175)**: This level has previously acted as strong support. If TSLA revisits this level, it could bounce back up from here.
- **0.382 Level (~$195)**: Acts as both support and resistance. A revisit to this level could provide another buying opportunity if it holds as support.
I think it will stay in upper band of 0.25.
2. **Upper Band Analysis**:
- **0.25 Level (~$250)**: and it will move in the range of 263-270 for next 10 months unless FSD shows great improvement.
after 2 retests it will goto 0.382 band but will not stay there to long and to to 0.5 band
### Potential Scenarios:
1. **Bullish Scenario**:
- If TSLA breaks above the 0 Fibonacci level ( stays in 0.25 band
with range of 263-270
- but sustained move above the 0.618 level could lead to testing the 0.75 level (~$350).
2. **Bearish Scenario**:
- If TSLA fails to break the 0.5 Fibonacci level and reverses, it could retest the support levels at 0.382 (~$195) and 0.25 (~$175).
- A break below these support levels could lead to further decline towards the lower bands.
### Conclusion:
- **Short-term**: Monitor the $270 level. A break above this level will likely lead to $300. If it fails, watch for support at $195 and $175.
- **Long-term**: Consider broader market conditions and Tesla's fundamentals for a more comprehensive outlook.
NOT A FINANCIAL ADVICE
