TSLA is back within a strong support zone, could see a bounce.
TSLA is back within the territory of a previously strong support zone around $180, as shown by the white box. We saw this zone hold several times back in 2014-2016, and it has proven (at least historically) to be a zone in which buyers will step in. Following all of the bearish price action and overly bearish sentiment in my opinion, we could see a potential short-squeeze and or rally back up to the $240-250 level; as shown by my yellow box.
Moving average guide (All Weekly for this post):
50 weekly moving average in Green.
200 weekly moving average in Red.
Area's to watch:
$178-190; as this was a strong support zone back in 2014-2016.
$240-250; as this previous support zone should now act as resistance.
50 and 200 week moving averages; as they could also be potential sell targets if TSLA does bounce from this support zone.
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
Moving average guide (All Weekly for this post):
50 weekly moving average in Green.
200 weekly moving average in Red.
Area's to watch:
$178-190; as this was a strong support zone back in 2014-2016.
$240-250; as this previous support zone should now act as resistance.
50 and 200 week moving averages; as they could also be potential sell targets if TSLA does bounce from this support zone.
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
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There it is. Could just be a dead-cat, so keep that in mind:
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So far so good:
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Target 2 hit: