Tesla - failed RSI support

Following a massive 2200% rally and multiple overbought conditions (green columns), the above 10-day chart is now indicating a ‘great sell’ opportunity.

Why now?

1) On the above 10-day chart RSI breaks through support. (highlighted in blue).

2) The 2-month chart (below) printed a new candle with the close of February. A gravestone DOJI candle was printed following the oversold condition. This is a strong indication a trend reversal is very probable in the months ahead.

When to sell?

Price action on the daily is considerably oversold, a bounce back to the $850 region would be unsurprising.

1st target $507

2nd target $190

Giao dịch đang hoạt động:

Spinning top 3-month candle printed recently with confirmation undetermined from previous quarter. Neither buyers or sellers want to make a move. Does either have an edge?

Yes, the bears. Why? Price action is up 30,000% in 10 years.

Good moment to take a PUT.

Đóng lệnh: dừng lỗ:

The bearish structure is broken, can't ignore that.

Price action now targeting $1400.

Bình luận:

Making steady progress to above target. Look for short opportunities once at $1362

Giao dịch đang hoạt động:

A 'incredible sell' signal prints on the 2-day chart after price action reaches the above target.

Is it possible price action moves higher? Sure.

Is it probable? No.

Giao dịch đang hoạt động:

This ‘short’ idea on Tesla was posted around $700 (today that would be $230 if the share split never occurred in August). Price action now down around 60% since the idea was published.

A strong bounce will be probable @ $80

Bình luận:

Seems probable the bear market rally continues until the past upward channel support is tested as resistance. Once confirmed the downtrend shall continue. Currently down around 50% since publication.

Bình luận:

** 25-30% correction is now highly probable **

Bình luận:

there goes the first -10%...