Tesla: Attention, entering a Sell Zone.

2019년 12월 19일

We've been bullish on TSLA since May 21st and the 180 bottom right when most were calling on a death spiral. As you see on the chart below both 360 and 380 Targets have been hit, making us over +100% return on the stock in a few months:

Right now however we are getting some medium term sell signals on the 1W chart that makes us call for caution. First of all the 1W RSI has been on Lower Highs since 2013, thus on a bearish divergence to the actual price action.

On a second note, the actual price is near the Higher High trend line of the wide Channel Up that started in late 2013 with 1W near overbought territory (RSI = 73.073, MACD = 29.460, ADX = 55.095, Highs/Lows = 76.5621). If the price is rejected within the red Triangle then we may get a pull back towards the 1W MA200 at 300.00, where we will be waiting with strong buys again. If on the other hand the Higher High trend-line breaks to the upside we expect a peak at 480.00 (before a new trend emerges), which will complete a roughly +175% rise as Tesla did on its last Higher Low - Higher High sequence.

Trade these levels wisely, it is not necessary to hold.



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