Is $TSLA a buy now?
(Republishing this)
Hello my dear padawans. This is going to be a quick one.
TECHNICALS
Technicals don't look very good but hey, this is TSLA and many (most?) times it tends to ignore them. Here they are:
1. MACD crossed the signal line bearish and somewhat sharply if compared to the last couple of times. Last time it crossed in similar fashion it dropped about 34%. Doesn't mean it has to happen again but it is something to keep in mind.
2. RSI is also moving sharply to the 30 level. Still a lot of room to go.
3. ADX also turned down sharply. -DI and +DI on the verge of crossing bearish . We could also see them touch and move in opposite directions from here.
4. Price crossed below the 14 and 21 emas on the same candle in what almost looks like a bearish engulfing .
On the positive side, the price found support on the .236 fib retracement and the Argus agency boosted their price target to $1,000 (from the previous $777).
So the overall outlook is bearish for Tesla , specially after what was considered disappointing earnings .
A retracement to the .382 fib level is not our of question so you can monitor the price action from here and position yourself accordingly. I am bullish long term so I bought some shares here and will buy more if it goes lower.
Safe trades!
Share the love:
If you get anything out of this TA, please like the chart so it moves up and others can benefit from my work. A simple click on the like button goes a long ways.
Follow for more:
I have an outstanding winning rate (check my other charts). If you want the best entry/exits just follow me, you won't regret. Thanks a lot!
***The ideas shared here are my opinion, not financial advise to place trades. Please do your own research before buying/selling stocks***
Hello my dear padawans. This is going to be a quick one.
TECHNICALS
Technicals don't look very good but hey, this is TSLA and many (most?) times it tends to ignore them. Here they are:
1. MACD crossed the signal line bearish and somewhat sharply if compared to the last couple of times. Last time it crossed in similar fashion it dropped about 34%. Doesn't mean it has to happen again but it is something to keep in mind.
2. RSI is also moving sharply to the 30 level. Still a lot of room to go.
3. ADX also turned down sharply. -DI and +DI on the verge of crossing bearish . We could also see them touch and move in opposite directions from here.
4. Price crossed below the 14 and 21 emas on the same candle in what almost looks like a bearish engulfing .
On the positive side, the price found support on the .236 fib retracement and the Argus agency boosted their price target to $1,000 (from the previous $777).
So the overall outlook is bearish for Tesla , specially after what was considered disappointing earnings .
A retracement to the .382 fib level is not our of question so you can monitor the price action from here and position yourself accordingly. I am bullish long term so I bought some shares here and will buy more if it goes lower.
Safe trades!
Share the love:
If you get anything out of this TA, please like the chart so it moves up and others can benefit from my work. A simple click on the like button goes a long ways.
Follow for more:
I have an outstanding winning rate (check my other charts). If you want the best entry/exits just follow me, you won't regret. Thanks a lot!
***The ideas shared here are my opinion, not financial advise to place trades. Please do your own research before buying/selling stocks***
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.