TSLA failed to close the month in a position which would suggest positive movement.
TSLA is currently caught within 2 areas of price consolidation.
Consolidation Range 1 is the larger of the two, it is currently 11 bars in length and the range is between: 206.86 – 414.50
Consolidation Range 2 is the smaller and tighter range, it is current 5 bars in length and the range is between: 206.86 – 318.50 (111.64 points)
The monthly bar which has formed is a Lower High – Lower Low to the previous bar with a close in the lower 20% of the bar, this now has the probability of 81.19% of another Lower High – Lower Low being generated in October.
The monthly range was 262.47 – 313.80 or 51.33, the 12-month average due to 100 point monthly swings currently is 91.31, 62% of the range is 56.43.
Using the 62% value of the average, a suggested range for the following month potentially could be: 225 – 282
The 11 period stochastic (11 periods is the length of the consolidation range), the stochastic has returned to bearish after 2 months of bullish signaling. The stochastic has also returned to below 30 suggesting that is may challenge it’s 11 period low (206.86).
A follow thru of the monthly low (81.19% probability) of 262.47 can trigger the potential for a downside target of 230.
A reversal (41% probability) and moving above 313.80 could mean a potential target for late October – early November of 347.74
A bar forming with a lower high and higher low (being engulfed by the bar generated in the month of September) is a 22.47% probability.
These are just observations and probabilities based on historical data.
TSLA is currently caught within 2 areas of price consolidation.
Consolidation Range 1 is the larger of the two, it is currently 11 bars in length and the range is between: 206.86 – 414.50
Consolidation Range 2 is the smaller and tighter range, it is current 5 bars in length and the range is between: 206.86 – 318.50 (111.64 points)
The monthly bar which has formed is a Lower High – Lower Low to the previous bar with a close in the lower 20% of the bar, this now has the probability of 81.19% of another Lower High – Lower Low being generated in October.
The monthly range was 262.47 – 313.80 or 51.33, the 12-month average due to 100 point monthly swings currently is 91.31, 62% of the range is 56.43.
Using the 62% value of the average, a suggested range for the following month potentially could be: 225 – 282
The 11 period stochastic (11 periods is the length of the consolidation range), the stochastic has returned to bearish after 2 months of bullish signaling. The stochastic has also returned to below 30 suggesting that is may challenge it’s 11 period low (206.86).
A follow thru of the monthly low (81.19% probability) of 262.47 can trigger the potential for a downside target of 230.
A reversal (41% probability) and moving above 313.80 could mean a potential target for late October – early November of 347.74
A bar forming with a lower high and higher low (being engulfed by the bar generated in the month of September) is a 22.47% probability.
These are just observations and probabilities based on historical data.
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Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.