• After scoring another target on TSLA, it dropped below our support at $166, giving continuation of this restless bear trend (the link to my previous post is below this analysis, as usual);
• Now, TSLA is around the $155, which is a possible support level, as it was a previous resistance on Oct 2020, as seen in the weekly chart below:
• As seen in the weekly chart above, the dotted line at $155 is a support area, but there’s another one: The purple trend line;
• TSLA is inside a huge Descending Channel since Nov 2021, and it is trading around its bottom line;
• Therefore, this is a dual support area made of this dotted line + purple line;
• Any bullish reaction in this area could indicate that TSLA would bounce again, maybe to the 21 ema in the weekly chart, or even to the upper purple trend line, retesting the ceiling of this channel again. However, there’s not a single bullish reaction on TSLA right now;
• What if it loses this dual support area? Then the $126 is the next support level on TSLA;
• The situation is critical on TSLA, and regardless of what happens, we will see interesting movements in the next few weeks. I’ll keep you posted on this.
Remember to follow me to keep in touch with my daily analyses!
• Now, TSLA is around the $155, which is a possible support level, as it was a previous resistance on Oct 2020, as seen in the weekly chart below:
• As seen in the weekly chart above, the dotted line at $155 is a support area, but there’s another one: The purple trend line;
• TSLA is inside a huge Descending Channel since Nov 2021, and it is trading around its bottom line;
• Therefore, this is a dual support area made of this dotted line + purple line;
• Any bullish reaction in this area could indicate that TSLA would bounce again, maybe to the 21 ema in the weekly chart, or even to the upper purple trend line, retesting the ceiling of this channel again. However, there’s not a single bullish reaction on TSLA right now;
• What if it loses this dual support area? Then the $126 is the next support level on TSLA;
• The situation is critical on TSLA, and regardless of what happens, we will see interesting movements in the next few weeks. I’ll keep you posted on this.
Remember to follow me to keep in touch with my daily analyses!
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👉 Join the 5%: thefinancehydra.com/
💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.
