There was a speculative move before the conference, expecting this to be a triggering event for a trend continuation, but it was completely absorbed with today's decline. TSLA has been dong LL-LH since the meeting and it is back at the levels we saw at the end of May.
TSLA has to go back above 252 to attempt to continue the uptrend, which is unlikely since we're at the top of cycle and at a profit taking area. New money could be incorporated to this market at around 61.8% (236) or 50% (225) retracement from the start of this leg (177), if that doesn't happen then it will go all the way down. Be careful with this stock.
So far in the 30 minute we see the stock is already in Bear territory and the critical levels are at 247. If the support found here is broken, the next targets to the downside are 245 and 242.
TSLA has to go back above 252 to attempt to continue the uptrend, which is unlikely since we're at the top of cycle and at a profit taking area. New money could be incorporated to this market at around 61.8% (236) or 50% (225) retracement from the start of this leg (177), if that doesn't happen then it will go all the way down. Be careful with this stock.
So far in the 30 minute we see the stock is already in Bear territory and the critical levels are at 247. If the support found here is broken, the next targets to the downside are 245 and 242.
