Hello traders and investors! Let’s see how Tesla is doing today!
Tesla triggered a Pivot Point in the hourly chart, by trading above the black line at $ 414.81. Right now, the stock is trying to keep the price above this level, and if it continues this way, probably the resistance at the green line $ 418 along with the 21 ema won’t be enough to hold the price for too long.
In that case, the target would be the $ 442 in the short-term, but TSLA must keep above the $ 414! We have a quite important support level at the blue line ($ 406) and the situation would start to look bearish if Tesla loses this level.
The daily chart will offer us more clues about what’s next:
If Tesla loses the blue line, it has a secondary support at the $ 379.11 (black line), which could hold the price, but the main target would be the yellow area, which is made of several important supports, like the $ 359, the $ 329 and the 21 ema in the weekly chart.
Even if Tesla reaches the yellow zone again, it won’t be a bear market, as Tesla is still inside a consolidation. The volume decreased a lot recently, and this is another trait of a boring movement.
The 21 ema is flat, and Tesla is moving erratically, and as it lacks main drivers, it’ll just try to follow what the Nasdaq Index is doing. Let’s keep our eyes open here and watch carefully the support/resistance levels mentioned in this analysis. And if you liked this idea, please, support it! And follow me to keep updated, as everyday I share a few ideas with you.
Thank you very much and stay safe.
Tesla triggered a Pivot Point in the hourly chart, by trading above the black line at $ 414.81. Right now, the stock is trying to keep the price above this level, and if it continues this way, probably the resistance at the green line $ 418 along with the 21 ema won’t be enough to hold the price for too long.
In that case, the target would be the $ 442 in the short-term, but TSLA must keep above the $ 414! We have a quite important support level at the blue line ($ 406) and the situation would start to look bearish if Tesla loses this level.
The daily chart will offer us more clues about what’s next:
If Tesla loses the blue line, it has a secondary support at the $ 379.11 (black line), which could hold the price, but the main target would be the yellow area, which is made of several important supports, like the $ 359, the $ 329 and the 21 ema in the weekly chart.
Even if Tesla reaches the yellow zone again, it won’t be a bear market, as Tesla is still inside a consolidation. The volume decreased a lot recently, and this is another trait of a boring movement.
The 21 ema is flat, and Tesla is moving erratically, and as it lacks main drivers, it’ll just try to follow what the Nasdaq Index is doing. Let’s keep our eyes open here and watch carefully the support/resistance levels mentioned in this analysis. And if you liked this idea, please, support it! And follow me to keep updated, as everyday I share a few ideas with you.
Thank you very much and stay safe.
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👉 Join the 5%: thefinancehydra.com/
💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.
