TSLA: Breaking resistances! Could the trend reverse?
Hello traders and investors! Let’s see how TSLA is doing today!
Since our last analysis, TSLA broke the $ 800 resistance, as expected, and it broke our target at $ 821. Now it almost hit its second target at $ 880 (February top), but it seems we have some signs of exhaustion.
In the 1h chart, we see a strong bearish candlestick, and if we lose its low, it might trigger a pullback to the 21 ema, or even a sharper pullback in the daily chart.
Since TSLA is far from its support levels, a pullback could be very annoying. In theory, it could drop all the way back to its 21 ema in the daily chart, and the trend would still remain bullish. The $ 821 is another support level for TSLA in the short-term.
However, we don’t see any official bearish sign yet, just a possible weakness sign around the resistance at $ 880. No bearish signs triggered yet, but we must stay alert near this resistance level.
If you liked this analysis, remember to follow me to keep in touch with my daily updates!
Have a good day.
Since our last analysis, TSLA broke the $ 800 resistance, as expected, and it broke our target at $ 821. Now it almost hit its second target at $ 880 (February top), but it seems we have some signs of exhaustion.
In the 1h chart, we see a strong bearish candlestick, and if we lose its low, it might trigger a pullback to the 21 ema, or even a sharper pullback in the daily chart.
Since TSLA is far from its support levels, a pullback could be very annoying. In theory, it could drop all the way back to its 21 ema in the daily chart, and the trend would still remain bullish. The $ 821 is another support level for TSLA in the short-term.
However, we don’t see any official bearish sign yet, just a possible weakness sign around the resistance at $ 880. No bearish signs triggered yet, but we must stay alert near this resistance level.
If you liked this analysis, remember to follow me to keep in touch with my daily updates!
Have a good day.
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