TSLA Descending Triangle Chart Pattern and Monthly Analysis!
1) I applied 2 moving averages which have 5 period(red one) and 20 period(green one). Red one cut below orange one it is sell sign.
2) Descending triangle occurred here and previous support line was broken. On the other hand, Pullback has happened but it could not reach above of this support line. Descending triangle is generally reversal pattern in technical analysis.
2) Descending triangle occurred here and previous support line was broken. On the other hand, Pullback has happened but it could not reach above of this support line. Descending triangle is generally reversal pattern in technical analysis.
Comment:
TSLA decreased approximately %12 in this week. I found and shared my opinion about Descending Triangle chart pattern on chart and its support line was broken this week. It will continue to decrease more.
Comment:
Comment:
On DMI indicator +DI cut below ADX and it is sell sign. This is weekly chart. ADX level is: 17.5314 and +DI level is: 17.3448. Also i applied Wave analysis on chart it may happen or not.
2) I drew resistance line on Momentum Indicator and Resistance line has not been broken yet. Also i applied moving average(8 period SMA) on Momentum indicator. Momentum line cut below orange line but we have to wait at the end of this month's close.
3) I drew resistance line on prices and it has not been broken yet. It may be pullback!
4) I applied moving average(14 period WMA) on CCI indicator. CCI is very close to cut below its moving average. On the other hand, i drew resistance line on CCI indicator and it has already been broken but we have to wait other indicator.
5) It is same for DMI. I drew resistance line and it has not been broken yet.