Tesla (
TSLA) is currently trading within a bullish pennant formation on the daily timeframe — and this one is textbook.
It entered the pennant from lower prices, forming a clear flagpole. Since then, price has been compressing between:
📉 Two descending resistance levels → Lower highs
📈 Two ascending support levels → Higher lows
This symmetrical tightening creates a classic bullish continuation setup — if the breakout confirms. Also found support at horizontal level of support/resistance $229.
What I’m watching:
⇒ Break above pennant resistance with volume
⇒ Reaction to any macro or Tesla-specific news during this compression (earnings July 23)
TSLA has a habit of explosive moves after consolidation. Keep this one on high alert.
#TSLA #Tesla #technicalanalysis #bullishpennant #tradingview #DisciplineTrading
TSLA) is currently trading within a bullish pennant formation on the daily timeframe — and this one is textbook.It entered the pennant from lower prices, forming a clear flagpole. Since then, price has been compressing between:
📉 Two descending resistance levels → Lower highs
📈 Two ascending support levels → Higher lows
This symmetrical tightening creates a classic bullish continuation setup — if the breakout confirms. Also found support at horizontal level of support/resistance $229.
What I’m watching:
⇒ Break above pennant resistance with volume
⇒ Reaction to any macro or Tesla-specific news during this compression (earnings July 23)
TSLA has a habit of explosive moves after consolidation. Keep this one on high alert.
#TSLA #Tesla #technicalanalysis #bullishpennant #tradingview #DisciplineTrading
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