TSLA did not reach 535, 660-700 on the horizon

On the market open price briefly tried to go down, but rebounded within minutes. On hourly chart price received support at 50 MA, and went up from there. $600 level was a breaking point in my view, as mentioned in prior post. Break above this level signals a decent rebound north.

I’m expecting 660ish to be tested first (50 DMA), and then likely push to $700, or just above it to possibly test 100 DMA (currently sits at $721, but it will be a bit lower by the time price reaches there).

Any long position entered above $660-$670 become very risky. That’s where I expect this current rebound to peak and from there we should see sub $500 price.

It’s interesting how this rebound coincided with rebound in BTC/ETH form their recent lows. I don’t like calling tops in general markets because they are driven by many other forces, but it just so might happen that S&P500 peaks shortly after if not at the same time as this rebound.

I am going to post analysis on daily chart to make longer term picture clear.

This is not financial, investing, or trading advise.