TSLA Ready To Reverse?!

Here we are looking TSLA on the Daily TF…

In today’s analysis we are going to be comparing TESLA’s two most recent legs up in its current move, to look at the similarities and figure out where this current leg up may run out of steam.

In TSLAs first move up, it moved up $115 which was approximately 112% up from its lows. From there, it received a pullback before beginning its current move up. When looking at the current move up, it has moved up exactly $115, just as the first move. Additionally, you can see that the price has gravitated right to a major gap fill on the chart.

This isn’t enough to say that TSLA will reverse, but the similarities and the confluence is very strong. I will begin to look for TSLA to pull back from its current levels, and will update you as I see fit!

Cheers!