$TSLA 2021-FEB-17
𝐇𝐚𝐬 𝐓𝐒𝐋𝐀'𝐬 𝐚𝐮𝐭𝐨𝐩𝐢𝐥𝐨𝐭 𝐫𝐚𝐥𝐥𝐲 𝐫𝐮𝐧 𝐨𝐮𝐭 𝐨𝐟 𝐞𝐧𝐞𝐫𝐠𝐲?
This analysis is based on the intraday 4 hour candles, and is more 'gut feel' than math backed data...
TSLA appears to be at a crucial point in time. We have now seen 3 attempts to break above 900 - while there have now been 2 visits back to below 800. On the daily time frame; all of this falls around the centre of the channel, so it makes sense in the bigger picture. However throughout this entire rally; we haven't seen a situation where the bulls have failed on multiple attempts to get above a key resistance point. To add to this, volume has been on a decline in recent weeks. The reason for this is - I believe - likely due to a mass exodus of retail investors from RobinHood & Elon disciples jumping onto his new memes (e.g. Dogecoin); and without the retail investor this rally probably would have fizzled out months ago...
So, who will win this battle of Bulls vs Bears - and more importantly, when will Elon tweet out another Tesla dancing easter egg that reminds his audience that they should own TSLA shares?
(On the daily, wait until we return towards the lower end of the channel for a buying opportunity. It will come.)
This analysis is based on the intraday 4 hour candles, and is more 'gut feel' than math backed data...
TSLA appears to be at a crucial point in time. We have now seen 3 attempts to break above 900 - while there have now been 2 visits back to below 800. On the daily time frame; all of this falls around the centre of the channel, so it makes sense in the bigger picture. However throughout this entire rally; we haven't seen a situation where the bulls have failed on multiple attempts to get above a key resistance point. To add to this, volume has been on a decline in recent weeks. The reason for this is - I believe - likely due to a mass exodus of retail investors from RobinHood & Elon disciples jumping onto his new memes (e.g. Dogecoin); and without the retail investor this rally probably would have fizzled out months ago...
So, who will win this battle of Bulls vs Bears - and more importantly, when will Elon tweet out another Tesla dancing easter egg that reminds his audience that they should own TSLA shares?
(On the daily, wait until we return towards the lower end of the channel for a buying opportunity. It will come.)
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