TSLA, broke the triangle, that points to lower prices, but...
315 has been a very strong resistance to break for TSLA. On the chart you can see that the top box was built from the top of the breakout gap of Oct25,21 and the pivot point high of Nov4, 21, then we cloned it to establish the bottom box whose floor was the target of the correction, which was met to perfection.
Last Friday TSLA broke below an almost symmetrical triangle and although this portends further lower prices, it is possible that the rebound we are expecting from the SPX tomorrow Monday and/or Tuesday, may help TSLA to recover the inside of the triangle. There is support at 265 and 255.
We remain neutral at this time, but think that 315 will stand as resistance for quite some time.
Last Friday TSLA broke below an almost symmetrical triangle and although this portends further lower prices, it is possible that the rebound we are expecting from the SPX tomorrow Monday and/or Tuesday, may help TSLA to recover the inside of the triangle. There is support at 265 and 255.
We remain neutral at this time, but think that 315 will stand as resistance for quite some time.