TSLA: These are the KEY POINTS we must watch for now.
Hello traders and investors! The movements on TSLA have been so technical and precise, and it is behaving according to our technique. Let’s update our thoughts. Remember, the link to yesterday's analysis is below this post, as usual.
First, in the 1h chart, TSLA is still bullish, as we expected, as it is still doing higher highs/lows. Is there any bearish structure around that could indicate it will do a sharper pullback or even reverse the trend? No.
In fact, TSLA is trying to break the previous top at $ 922, which is another good sign. To me, TSLA is inside a huge Ascending Triangle made by the black line at $ 943 and the purple line which connects the previous bottoms. This tells us that our next stop is the $ 943 again. What will it do from there? We don’t know, but we don’t have to know in order to trade well. Trading is reactive, not predictive.
All we must know is that TSLA is still bullish, and pullbacks to the 21 ema and to the $ 896 are expected, and wouldn’t be a reason to panic at all.
In the worst case-scenario, I see it retesting its purple line again, but I don’t see a technical reason to work with this scenario right now.
In the daily chart, we see many support levels (the retracements), and this is another reason why it wouldn't be too easy for TSLA to drop from here. However, as we expected, the 21 ema is here to annoy us. Probably this week, we’ll have our answer if this is a Dead Cat Bounce or not.
I’ll keep you guys updated every day on TSLA, so remember to follow me to not miss my daily analyses.
First, in the 1h chart, TSLA is still bullish, as we expected, as it is still doing higher highs/lows. Is there any bearish structure around that could indicate it will do a sharper pullback or even reverse the trend? No.
In fact, TSLA is trying to break the previous top at $ 922, which is another good sign. To me, TSLA is inside a huge Ascending Triangle made by the black line at $ 943 and the purple line which connects the previous bottoms. This tells us that our next stop is the $ 943 again. What will it do from there? We don’t know, but we don’t have to know in order to trade well. Trading is reactive, not predictive.
All we must know is that TSLA is still bullish, and pullbacks to the 21 ema and to the $ 896 are expected, and wouldn’t be a reason to panic at all.
In the worst case-scenario, I see it retesting its purple line again, but I don’t see a technical reason to work with this scenario right now.
In the daily chart, we see many support levels (the retracements), and this is another reason why it wouldn't be too easy for TSLA to drop from here. However, as we expected, the 21 ema is here to annoy us. Probably this week, we’ll have our answer if this is a Dead Cat Bounce or not.
I’ll keep you guys updated every day on TSLA, so remember to follow me to not miss my daily analyses.
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