Hello traders. My previous idea of Tesla was titled "Tesla approaching key demand zone, buy the dip".
The key demand zone held 7 days until yesterday. To be more specific, it bounced by 7.5% utmost from the first retest. When it failed to go higher and went deep into the zone, my first response is oh...it's bad. According to theory of supply and demand, the more touch of the zone, the more likely it'll be penetrated. In addition, the Nasdaq also behaved in a weak mode.
Frankly speaking, there's a series of bad news on the internet, from the customer complaint at a car-show to postponed delivery of level-5 self-driving car.
So, what's next? The nearest support zone is previous low area of 538-558. I'm expecting the zone to be served as a strong support zone. Once that break, the next support zone is 450 which I projected from the weekly chart(flip & MA).
If price fall to that level, it will be a sweet spot for me. At least, the Q1 earning report looks not bad.
The key demand zone held 7 days until yesterday. To be more specific, it bounced by 7.5% utmost from the first retest. When it failed to go higher and went deep into the zone, my first response is oh...it's bad. According to theory of supply and demand, the more touch of the zone, the more likely it'll be penetrated. In addition, the Nasdaq also behaved in a weak mode.
Frankly speaking, there's a series of bad news on the internet, from the customer complaint at a car-show to postponed delivery of level-5 self-driving car.
So, what's next? The nearest support zone is previous low area of 538-558. I'm expecting the zone to be served as a strong support zone. Once that break, the next support zone is 450 which I projected from the weekly chart(flip & MA).
If price fall to that level, it will be a sweet spot for me. At least, the Q1 earning report looks not bad.
Commentaire:
Indecisive candle formed. I would say watch.
Transaction en cours:
Zone touched. The overall market mood looks good
plan your trade and trade your plan
