Tesla shares are at a resistance level, last price gap and the psychological level of 630. If we can break here there is a decent upside to be had. If the resistance holds we should be looking to short play it.
In our last Tesla analysis, we were anticipating a bounce of the trendline and the fibonacci and we got that. The analysis after that, we were looking for bull flags to take this higher.
We are currently in another bullflag which could possibly take us to new highs!
See linked charts for previous Tesla analysis.
Goodluck and trade safe!
Another Tesla call here, it looks like we may break a little higher to form a higher timeframe double top.
I am not trading this right now but my breakdown and bias remains the same regardless.
I called the previous short perfectly and now I will attempt to call the next bull move higher so let's see if it is correct.
Let's go Ninja's! :)
Tesla is creating a nice bull flag . Ideally we would want the price to retrace 50% which lines up with the ascending trendline. There we can have a clear stop loss along with clear entry reason.
Having said that, it is also possible that the flag may break up at any point due to the sheer volume of propaganda regarding Tesla and Elon Musk .
cant draw the best on tradingview, but you can see since all time high, tesla is making lower highs, we are consolidating and finding support above my green zone, best to wait for a decision in my opinion
RSI & Stochastic are showing that TSLA is very oversold.
Extremely high support at ~$180 is within reach and is the key area for a reversal.
Long term uptrend line is also within reach and shows confluence with the key support level of $180.
LONG TSLA within the $180-190 region.