TSLA: The beginning of a reversal? What's next for Tesla?
Hello traders and investors! As we discussed in our last study, last week, Tesla gathered strength by moving sideways before the breakout from our pivot point. Tesla is behaving exactly as we thought last week, doing some very good and nice movements. Let’s se in details:
First, in the 1h chart, since our last analysis, Tesla accumulated a little bit more, and today is doing a breakout from the 2 main resistances we talked about last week: The $ 708 and the $ 718. The $ 718 was a stronger resistance, and I was focusing more on it.
And if you missed my previous analysis, I’ll leave the link to it below, if you are curious and want to understand the logic of our thoughts. Now, let’s see the daily chart:
Now it is official: The trend is bullish. Tesla is above the 21 ema, which is pointing up, and it just triggered a pivot point by defeating its previous resistances, and we have clearly higher highs/lows.
Personally, my bias was bullish since the beginning, but I was expecting it would take a little longer to do this movement. Anyway, I’m optimistic with TSLA, but there’s one risk: If the NDX corrects (and it could easily do a correction in the next few days), this will affect Tesla as well, the question is, how? Maybe Tesla won’t be affected at all, or maybe one of its previous resistances will work as support next.
Let’s monitor Tesla closely from now on and remember to follow me to keep in touch with my daily updates, and please, support this idea if you liked it!
Thank you very much!
First, in the 1h chart, since our last analysis, Tesla accumulated a little bit more, and today is doing a breakout from the 2 main resistances we talked about last week: The $ 708 and the $ 718. The $ 718 was a stronger resistance, and I was focusing more on it.
And if you missed my previous analysis, I’ll leave the link to it below, if you are curious and want to understand the logic of our thoughts. Now, let’s see the daily chart:
Now it is official: The trend is bullish. Tesla is above the 21 ema, which is pointing up, and it just triggered a pivot point by defeating its previous resistances, and we have clearly higher highs/lows.
Personally, my bias was bullish since the beginning, but I was expecting it would take a little longer to do this movement. Anyway, I’m optimistic with TSLA, but there’s one risk: If the NDX corrects (and it could easily do a correction in the next few days), this will affect Tesla as well, the question is, how? Maybe Tesla won’t be affected at all, or maybe one of its previous resistances will work as support next.
Let’s monitor Tesla closely from now on and remember to follow me to keep in touch with my daily updates, and please, support this idea if you liked it!
Thank you very much!
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