Dear Fellow Traders,
I am pleased to share with you an incisive examination of Tesla's stock behavior, underpinned by extensive trading experience, particularly in the derivatives market.
The meticulous scrutiny of Tesla’s price action has enabled me to anticipate its oscillations with considerable accuracy.
Upon close examination of the technical chart, we observe that Tesla has been entrenched in a downtrend since November 2021, a trend that has been consistently recognized within the trading community. The recent technical pattern has signaled a bearish stance with a confirmed sell signal upon closing below the critical threshold of $161.
As we direct our attention to the immediate trajectory, I postulate that the support near $165 is poised to be tested. Should this support falter, it augurs a potential reevaluation of prices in the vicinity of $162 to $161. Given the influx of unfavorable news concerning Tesla, the stock has exhibited augmented volatility.
Last week's formation of an 'inside candle' is particularly telling. Such a pattern often portends a forthcoming breakout from the established trading range. A decisive move above the $178.80 mark may engender a rally towards the $190 to $194 region. Conversely, a breach below $165 could precipitate further downward movement, adhering to established trading protocols.
I wish you all a splendid weekend and extend my best wishes for prosperous trading in the forthcoming week. Moreover,
I would like to convey my warm regards for the upcoming Easter Weekend.
I am pleased to share with you an incisive examination of Tesla's stock behavior, underpinned by extensive trading experience, particularly in the derivatives market.
The meticulous scrutiny of Tesla’s price action has enabled me to anticipate its oscillations with considerable accuracy.
Upon close examination of the technical chart, we observe that Tesla has been entrenched in a downtrend since November 2021, a trend that has been consistently recognized within the trading community. The recent technical pattern has signaled a bearish stance with a confirmed sell signal upon closing below the critical threshold of $161.
As we direct our attention to the immediate trajectory, I postulate that the support near $165 is poised to be tested. Should this support falter, it augurs a potential reevaluation of prices in the vicinity of $162 to $161. Given the influx of unfavorable news concerning Tesla, the stock has exhibited augmented volatility.
Last week's formation of an 'inside candle' is particularly telling. Such a pattern often portends a forthcoming breakout from the established trading range. A decisive move above the $178.80 mark may engender a rally towards the $190 to $194 region. Conversely, a breach below $165 could precipitate further downward movement, adhering to established trading protocols.
I wish you all a splendid weekend and extend my best wishes for prosperous trading in the forthcoming week. Moreover,
I would like to convey my warm regards for the upcoming Easter Weekend.