TSLA: What to expect next?
Hello traders and investors! Let’s see how Tesla is doing today!
First, since we hit our first target at it, Tesla has been inside a Triangle pattern in the 1h chart. Triangles are usually continuation patterns, but this is not a rule. A breakout from any of these purple lines will dictate the next movement.
If Tesla breaks the Triangle downwards, the target in the 1h chart is the gap at $ 657.20 (yellow square / green line). The volume has been quite low recently, and this is something to pay attention to.
An upwards breakout would make Tesla hit the next resistances in the daily chart.
The next target is the $ 714.89, which is a secondary resistance. We also have an open gap at $ 733, which might be filled too, given Tesla will keep trending like this.
Let’s keep in mind that the 21 ema is also another support level for TSLA, and it would require a true reversal sign to lose this support. So far, Tesla is just doing a sideways correction, a normal movement. I think it would be good if it drops to the 21 ema again, but who knows.
Either way, I see the gap at $ 733 as a nice target. If you liked this analysis, remember to follow me to keep in touch with my daily updates, and support this idea if it helped you!
Thank you very much!
First, since we hit our first target at it, Tesla has been inside a Triangle pattern in the 1h chart. Triangles are usually continuation patterns, but this is not a rule. A breakout from any of these purple lines will dictate the next movement.
If Tesla breaks the Triangle downwards, the target in the 1h chart is the gap at $ 657.20 (yellow square / green line). The volume has been quite low recently, and this is something to pay attention to.
An upwards breakout would make Tesla hit the next resistances in the daily chart.
The next target is the $ 714.89, which is a secondary resistance. We also have an open gap at $ 733, which might be filled too, given Tesla will keep trending like this.
Let’s keep in mind that the 21 ema is also another support level for TSLA, and it would require a true reversal sign to lose this support. So far, Tesla is just doing a sideways correction, a normal movement. I think it would be good if it drops to the 21 ema again, but who knows.
Either way, I see the gap at $ 733 as a nice target. If you liked this analysis, remember to follow me to keep in touch with my daily updates, and support this idea if it helped you!
Thank you very much!
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