• Yesterday, TSLA hit an important support level, the 38.2% Fibonacci’s Retracement; • This is its first mid-term support level, and it seems TSLA wants to react this morning (pre market); • Since TSLA just triggered an H&S chart pattern, a pullback to its resistances is likely to happen. As I said yesterday, according to Bulkowski, H&S patterns have 68% chances...
• The index crashed again yesterday, and it lost the support at 3,949, and hit the bottom of its Descending Channel; • What’s more, the 21 ema did a good job holding the price, as it worked as a resistance yesterday; • Now that the index is in a support level, a bullish reaction is plausible; • If the SPX confirms a bottom in this support area, it might indicate...
• The SPX stabilized yesterday, but this move isn’t enough to stop the bearish sentiment; • In the 1h chart, the index remains bearish, as it is below the 21 ema and there’s no bullish reversal structure around; • In the daily chart, yesterday’s candlestick was positive, but yesterday's reaction was very weak, and it didn’t occur near a support level; • Even if...
• TSLA lost its key support at $187, and it triggered a H&S chart pattern in the daily chart; • In the 1h chart, it failed in breaking its resistances, and the bias is clearly bearish, as it is doing nothing but lower highs/lows; • Even if TSLA does a bullish reaction, it would have to face multiple resistances, making a bullish thesis more unlikely; • First, in...
• TSLA is still dropping, and although it is in a support area, there’s no bullish reaction confirming a bottom sign yet; • The key support is the $187, which is the baseline of a this congestion, and if TSLA loses it, we might see a bearish reversal structure; • What’s more, the $187 could be the neckline of a Head & Shoulders chart pattern; • If TSLA turns...
• The SPX hit its resistance at 4,060, and now it seems it is losing strength; • In the daily chart, we see a Shooting Star candlestick pattern, that if triggered, could take the index to lower levels; • In the 1h chart, the SPX is correcting, and the next support is the 21 ema, which is ascending; • The 21 ema in the 1h chart is almost at the same price the 21...
• The SPX is doing a very powerful reaction above a critical support level; • First, as seen in the daily chart, it hit the 3,949 support, and it is doing a powerful reaction. Last Thursday it did a Bullish Engulfing, and las Friday, it broke the 21 ema and the 4k; • In the weekly chart, it is doing a Hammer candlestick pattern, a bullish reversal pattern that...
• TSLA corrected last week, but it seems it just dropped to hit its support at $187, and now, it wants to bounce again; • Last Friday, TSLA confirmed a bottom sign, as it broke the 21 ema again (which worked as a resistance last Thursday), it broke Thursday’s high, and it filled the previous gap at $198.52 (making it an Exhaustion Gap); • All these bottom signs...
• SPX is in a bearish trend as it has triggered a bearish pivot point at 4,060, making a lower high/low, and is below the 21 ema; • Now, the 21 ema and 4,060 are resistance levels. However, talking short term, the 4,015 (red line) is doing a competent job holding the price; • Therefore, there are many resistance levels on the SPX, and it will not be easy for it to...
• TSLA is trying to retest the previous resistance level at $214, but it seems to be losing steam this morning; • The problem is that TSLA is inside a congestion, and any bearish signal around $214 may indicate that it will correct back to its support level - probably the 21 ema; • In order to regain bullish sentiment, TSLA must do a clear breakout of the $214...
• The SPX is reacting today, as it is trying to break yesterday’s high and the resistance at 4,015 (red line); • If it stays above this area, the index might bounce again, and retest the next resistance area around 4,060; • The 4,060 was a previous support level, and it is where the 21 ema is right now, making this a dual-resistance area in the daily chart; • As...
• The bear market persists on the SPX, as it lost our support at 4,015 and there’s no bottom sign on it yet; • Now the 4,015 is a resistance area for any bullish reaction. In addition to his resistance, there is the 21 ema and the 4,060 (our previous support). These key points reinforce the mid-term bearish thesis; • In the lack of bullish reaction, the index is...
• The sell-off persists on TSLA, and it seems we are seeking the 21 ema again; • The 21 ema is around the black line at $187, which is a trigger point of a possible Double Top chart pattern; • The bias is still bullish on TSLA, but if it loses this area, and we don’t see any bullish reaction, it might reverse the sentiment; • Therefore, the area around $180s is...
• TSLA is stabilizing today, after Friday’s bullish reaction; • Since TSLA failed in breaking the $214, and it did a top sign last week, it is just showing signs of weakness, however, the bias is still bullish; • The trend is still bullish as TSLA have yet to trigger a lower high/low pattern and it is still above the 21 ema; • The fact it did a double top at $214...
• The SPX is bouncing, trading above the 21 ema, and there’s no top signal or reversal structure on it yet; • The next technical resistance is the gap area at 4,218, and as long as the trend remains bullish, we’ll get there; • The trend is bullish because the index is still doing higher highs/lows, and it is above the 21 ema (which is pointing upwards), despite...
• The SPX is correcting today, however, it is still above the 4,100, indicating some strength; • If the index drops more, and loses yesterday’s low, we might see a sharper correction. Probably the SPX would lose the 21 ema in this scenario; • For now, it seems the bulls are in control, despite the pullback. As long as the index remains...
• The SPX lost our key support at 4,100, and it did a correction to its next technical support, the 21 ema; • Now, it seems we have a bullish reaction above the 21 ema, however, this reaction wasn’t that good; • The bias is still bullish, as the index is still above the 21 ema, but would be important to see a more powerful reaction, preferably, closing above the...
• TSLA broke our key resistance at $200, indicating that this rally might persist a little longer; • Now, our previous resistance at $200 becomes a new support level for TSLA; • Now TSLA is way above the support at $182.50 and the 21 ema. This could indicate that it is overbought, but it won’t correct unless if it does a clear top sign, a so far, there’s...