Bias definitely bersih with Tesla.
The price is all over the place, very discontroled, very erratic. Typical of a distribution phase.
Stock just came out of a long term uptrend where it ended overextending and displaying a bearish divergence on the RSI calling the top of the trend.
Most decisive bearish signal here is the death cross completed at the end of May.
Bias is this, bearish.
I'd say a breakdown below the current support zone would be an essential trigger.
On the downside, such a breakdown would leave us with a poor trade from a risk to reward perspective, since there should be bullish pressure in the 400 usd - 410 usd range.
The price is all over the place, very discontroled, very erratic. Typical of a distribution phase.
Stock just came out of a long term uptrend where it ended overextending and displaying a bearish divergence on the RSI calling the top of the trend.
Most decisive bearish signal here is the death cross completed at the end of May.
Bias is this, bearish.
I'd say a breakdown below the current support zone would be an essential trigger.
On the downside, such a breakdown would leave us with a poor trade from a risk to reward perspective, since there should be bullish pressure in the 400 usd - 410 usd range.
