Tesla (
TSLA
) may have a rough week next week during the March 2022 Federal Reserve meeting and OpEx. While it showed life today, there is resistance at the 200 EMA (green line). If this mini run continues, I expect further resistance at the $890s or near the 50 EMA (low $900s; yellow line). A break through the 50 EMA = bullish run and a break in the thesis. But, given the catalysts ahead next week, I anticipate a pullback eventually (near-term) to $735 or even a break at support before any run bigger than mentioned above.
TSLA
) may have a rough week next week during the March 2022 Federal Reserve meeting and OpEx. While it showed life today, there is resistance at the 200 EMA (green line). If this mini run continues, I expect further resistance at the $890s or near the 50 EMA (low $900s; yellow line). A break through the 50 EMA = bullish run and a break in the thesis. But, given the catalysts ahead next week, I anticipate a pullback eventually (near-term) to $735 or even a break at support before any run bigger than mentioned above.
Trade closed: stop reached:
❌ Broke through original resistance. Market corrected quickly after the recent downturn.