TSLA 30 Min Update

TSLA

TSLA so far throughout the day has been moving in a range with bearish sentiment. My only explanation for this is that there has been a lot of sector rotation going on this week so far from tech to other sectors such as energy, industrials, and financials, . Just take a look at DIA, XLF, XLE, and XLI. In addition to this rotation, a diamond top pattern was formed earlier in the day on the 30 min chart which was met with a rapid and strong selling pressure. This is to be expected considering a diamond top pattern is a bearish signal.
However, a double bottom Pattern formed and we can potentially see an inverse head and shoulders pattern form by tomorrow. I will personally be going long if I see TSLA confirm this pattern and break out over the 1413 level

Sentiment: Neutral to Bullish

Reasons:
1. Temporary Sector Rotation
2. Double Bottom Formation
3. Potential Inverse Head and Shoulders Pattern