TSLA Technical Analysis for Tomorrow (10/14/2024)

Key Levels:
Support Levels:

$214.40: This is a key support area, where price found a reaction in recent sessions. A break below could lead to further downside pressure.

$210.00: A psychological level below $214.40 that may act as the next major support if the bearish momentum continues.

Resistance Levels:

$217.97: Immediate resistance level that TSLA would need to break to reverse the current bearish trend.

$220.00: Another important resistance zone that could potentially slow a price recovery if broken above $217.97.

Indicators:
The MACD is showing bearish momentum with the histogram reflecting increased selling pressure. The signal line remains below the MACD line, suggesting continued downside risk in the short term.

Volume: Volume is steady during the sell-off, which may indicate that sellers are still dominant in the market. A lack of strong buying volume suggests limited bullish activity at the moment.

Price Action & Trend:
Bearish Trend: TSLA has been in a clear downtrend, with lower highs and lower lows. The price action reflects continued selling pressure. If TSLA fails to hold the $214.40 support level, it could continue to test lower price targets.

Bearish Scenario: A break below $214.40 could see TSLA test the next support near $210.00. Given the bearish momentum, this level could be tested unless buyers step in to halt the decline.

Bullish Scenario: If TSLA manages to hold $214.40 and break above $217.97, there may be a short-term recovery toward the $220.00 resistance level.

Plan for Tomorrow:
Entry for Shorts: Below $214.40, targeting $210.00 or lower if bearish momentum continues.
Entry for Longs: Above $217.97, aiming for a move toward $220.00 if buyers start to show strength.

Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research before making any investment decisions. I am not responsible for any losses incurred from trading based on this analysis.