TSLA: Key points for the short/mid-term.
Hello traders and investors! Let’s see how TSLA is doing today!
In the 1h chart, it looks like we have a Triangle chart pattern, as evidenced by the purple lines. This is a continuation pattern (this is not a rule, though), and since the trend is bullish, an upward breakout would be natural.
But, what if we break downwards? Then we will lose the 21 ema and seek the $ 700, which seems to be a relevant support level for us to work with.
Keep in mind that it is natural that Tesla is struggling in the past few days, as we just hit a resistance in the daily chart:
It is interesting to notice that the Triangle seen in the 1h chart (the last 3 candlesticks, in the daily chart), has decreasing volume. There’s no real sell-off here, just a lack of momentum.
If we lose the $ 700, we have a good support at $ 689, which is also quite close to the gap seen in the 1h chart, around $ 687. Therefore, this area is a good support candidate, if the Triangle and the support at $ 700 fail.
Remember: We have an open gap at $ 732.20, and we almost filled it this week. Gaps work as magnets.
If you liked this analysis, remember to follow me to keep in touch with my daily updates.
Thank you very much.
In the 1h chart, it looks like we have a Triangle chart pattern, as evidenced by the purple lines. This is a continuation pattern (this is not a rule, though), and since the trend is bullish, an upward breakout would be natural.
But, what if we break downwards? Then we will lose the 21 ema and seek the $ 700, which seems to be a relevant support level for us to work with.
Keep in mind that it is natural that Tesla is struggling in the past few days, as we just hit a resistance in the daily chart:
It is interesting to notice that the Triangle seen in the 1h chart (the last 3 candlesticks, in the daily chart), has decreasing volume. There’s no real sell-off here, just a lack of momentum.
If we lose the $ 700, we have a good support at $ 689, which is also quite close to the gap seen in the 1h chart, around $ 687. Therefore, this area is a good support candidate, if the Triangle and the support at $ 700 fail.
Remember: We have an open gap at $ 732.20, and we almost filled it this week. Gaps work as magnets.
If you liked this analysis, remember to follow me to keep in touch with my daily updates.
Thank you very much.
⚠️ Want to take your trading to the next level?
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
相關出版品
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。