TSLA: Crashing! Is there any hope for it?
• TSLA is in a bear trend, and it lost the previous support level at $198 (daily chart);
• The volume is quite high, and today, TSLA is doing another gap (yellow square);
• Since the trend is bearish, and it lost the previous support level, in theory, TSLA is heading to the $179, our next support level as seen in the weekly chart (red line);
• The $179 is a key support from March 2021;
• There’s not a single bullish sign indicating that we found a bottom or that we’ll reverse from here – at least not right now;
• If TSLA fills the last gap today or tomorrow, it will be an Exhaustion Gap, and this might indicate a bounce to higher levels, but again, we lack bullish evidence at the moment;
• For now, let’s focus on the $179, on the last gap, and on how TSLA will close today.
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• The volume is quite high, and today, TSLA is doing another gap (yellow square);
• Since the trend is bearish, and it lost the previous support level, in theory, TSLA is heading to the $179, our next support level as seen in the weekly chart (red line);
• The $179 is a key support from March 2021;
• There’s not a single bullish sign indicating that we found a bottom or that we’ll reverse from here – at least not right now;
• If TSLA fills the last gap today or tomorrow, it will be an Exhaustion Gap, and this might indicate a bounce to higher levels, but again, we lack bullish evidence at the moment;
• For now, let’s focus on the $179, on the last gap, and on how TSLA will close today.
Remember to follow me to keep in touch with my analyses!
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