TSLA: Next targets and important supports to keep in mind!
Hello traders and investors! Let’s see how Tesla is doing today!
First, it did break out from the green line, which we discussed in my last analysis, and now it is going to hit the $ 461.88, the previous resistance.
Also, it already filled the gap (yellow area) at $ 446.40, and it is back on a bull trend. The 21 ema and the green line will work as support levels next, and pullbacks to these points are expected and shouldn’t be scary.
Meanwhile, it seems we have a Cup & Handle chart pattern, and it seems the zone around $ 448.78 is a secondary resistance for this pattern.
Right now, it would be very hard for the bears to take charge of the situation, but the bull trend will start to get weaker if TSLA loses the $ 439. But would only get weaker, I’m not saying it would be a reversal sign.
The trend would reverse in the short-term if we see TSLA losing supports in the daily chart:
I only would believe in a bear reaction if TSLA loses the $ 406.05. Meanwhile, the $ 461.88 is the next target for the stock.
The 21 ema is pointing up, and the Triangle pattern had an upward breakout, so the odds favor the bulls, at least in the short-term.
I would guide myself through the hourly chart, which is right now inside a Trap Zone (between the ascending 21 ema and the resistance at $ 448). Be aware of the $ 439 and its resistances!
And if you liked this analysis, please, support it! And follow me to keep in touch with my studies.
Have a great day!
First, it did break out from the green line, which we discussed in my last analysis, and now it is going to hit the $ 461.88, the previous resistance.
Also, it already filled the gap (yellow area) at $ 446.40, and it is back on a bull trend. The 21 ema and the green line will work as support levels next, and pullbacks to these points are expected and shouldn’t be scary.
Meanwhile, it seems we have a Cup & Handle chart pattern, and it seems the zone around $ 448.78 is a secondary resistance for this pattern.
Right now, it would be very hard for the bears to take charge of the situation, but the bull trend will start to get weaker if TSLA loses the $ 439. But would only get weaker, I’m not saying it would be a reversal sign.
The trend would reverse in the short-term if we see TSLA losing supports in the daily chart:
I only would believe in a bear reaction if TSLA loses the $ 406.05. Meanwhile, the $ 461.88 is the next target for the stock.
The 21 ema is pointing up, and the Triangle pattern had an upward breakout, so the odds favor the bulls, at least in the short-term.
I would guide myself through the hourly chart, which is right now inside a Trap Zone (between the ascending 21 ema and the resistance at $ 448). Be aware of the $ 439 and its resistances!
And if you liked this analysis, please, support it! And follow me to keep in touch with my studies.
Have a great day!
⚠️ Want to take your trading to the next level?
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.