TSLA: One of our scenarios is materializing!
Hello traders and investors! Let’s see how Tesla is doing today! It seems we are working with the second scenario we discussed about last week.
First, in the 1h chart, Tesla is engaged in a bull trend, as it is doing higher highs/lows, it is above the 21 ema, and it seems it founds a support there every time it drops.
Tesla has some gaps (yellow squares) that are going to help to push the price up, but the first target for TSLA is the $ 626.70. Besides the 21 ema, the $ 596 is another support, which is working very well for Tesla, as it was previously a resistance, and now it is support, according to the Principle of Polarity.
Now it is heading to a dual resistance level, made by the $ 626.70, which is quite close to the 21 ema in the daily chart as well.
If Tesla is serious about reversing the mid-term trend, we must see a bullish structure around. I find it amazing that the volume is very low during the bearish days, and much higher during the bullish ones.
This indicates that there is no real sell pressure around here, and Tesla is getting stronger as the time passes. We just need to see a bullish structure around.
I’ll keep monitoring Tesla, and if you liked this analysis, remember to follow me to keep in touch with my daily studies, and support this idea if it helped!
Thank you very much.
First, in the 1h chart, Tesla is engaged in a bull trend, as it is doing higher highs/lows, it is above the 21 ema, and it seems it founds a support there every time it drops.
Tesla has some gaps (yellow squares) that are going to help to push the price up, but the first target for TSLA is the $ 626.70. Besides the 21 ema, the $ 596 is another support, which is working very well for Tesla, as it was previously a resistance, and now it is support, according to the Principle of Polarity.
Now it is heading to a dual resistance level, made by the $ 626.70, which is quite close to the 21 ema in the daily chart as well.
If Tesla is serious about reversing the mid-term trend, we must see a bullish structure around. I find it amazing that the volume is very low during the bearish days, and much higher during the bullish ones.
This indicates that there is no real sell pressure around here, and Tesla is getting stronger as the time passes. We just need to see a bullish structure around.
I’ll keep monitoring Tesla, and if you liked this analysis, remember to follow me to keep in touch with my daily studies, and support this idea if it helped!
Thank you very much.
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