Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe Tesla stock is actually quite overextended towards the upside; just the past 7 weeks we had a short covering rally of about 100%.
Therefore I just do expect a short term correction towards the downside before the market will then create the longer term continuation towards the upside and retest a major bearish trendline at the $240 area.
On the daily timeframe I am now just waiting for the market to retest a very obvious previous resistance zone which is now turned support from which I definitely do expect the next impulse towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe Tesla stock is actually quite overextended towards the upside; just the past 7 weeks we had a short covering rally of about 100%.
Therefore I just do expect a short term correction towards the downside before the market will then create the longer term continuation towards the upside and retest a major bearish trendline at the $240 area.
On the daily timeframe I am now just waiting for the market to retest a very obvious previous resistance zone which is now turned support from which I definitely do expect the next impulse towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
