Ticker: $TSLA
Date: 2/23/2020
$TSLA is holding on extremely well amid market weakness on Thursday and Friday. Potential cup and handle pattern that could play out in these upcoming days.
We closed with an inside bar on Friday, with the HOD of 913.03 and LOD of 880.45. Those price will be crucial in making my entries for long or short, depending on how we break.
If we break bull, we need to break $944.78 to start this cup and handle pattern. If we break bear, I would just wait.
I would also watch the correlation between Tesla and the market closely. This CoronaVirus (COVID-19) is all over the headlines and is driving the market down. If that is the case in these upcoming days or even weeks, I would think that the overall market has underestimated the effect of the virus and the impact it has on businesses.
Date: 2/23/2020
$TSLA is holding on extremely well amid market weakness on Thursday and Friday. Potential cup and handle pattern that could play out in these upcoming days.
We closed with an inside bar on Friday, with the HOD of 913.03 and LOD of 880.45. Those price will be crucial in making my entries for long or short, depending on how we break.
If we break bull, we need to break $944.78 to start this cup and handle pattern. If we break bear, I would just wait.
I would also watch the correlation between Tesla and the market closely. This CoronaVirus (COVID-19) is all over the headlines and is driving the market down. If that is the case in these upcoming days or even weeks, I would think that the overall market has underestimated the effect of the virus and the impact it has on businesses.