TSLA: This is a Defining Moment.
• Despite the bullish reaction this morning, TSLA is still in a bear trend, and it already lost the previous support line at 163.91, which I mentioned in my previous public analysis (link below this post);
• Now, the 163.91 is a short-term resistance line, which reinforces the bearish sentiment. TSLA won’t bounce to higher levels, like 176, while it is below this resistance;
• In the lack of bullish reversal patterns, the gap at 146 is our next mid-term target.
• In the weekly chart, TSLA is on the verge of losing a key support line, which has been acting as a support since January;
• There’s still time for a reaction, and if we see a bullish candlestick above this support TSLA could finally bounce again, but this reaction must occur as soon as possible – preferably this week;
• On the other hand, if TSLA loses this support line, then the bearish sentiment will prevail, and TSLA could get close to the 100 again (the next support line in the weekly chart, a long-term target);
• Therefore, this is a defining moment for TSLA stock, and we’ll have our answers very soon.
I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
• Now, the 163.91 is a short-term resistance line, which reinforces the bearish sentiment. TSLA won’t bounce to higher levels, like 176, while it is below this resistance;
• In the lack of bullish reversal patterns, the gap at 146 is our next mid-term target.
• In the weekly chart, TSLA is on the verge of losing a key support line, which has been acting as a support since January;
• There’s still time for a reaction, and if we see a bullish candlestick above this support TSLA could finally bounce again, but this reaction must occur as soon as possible – preferably this week;
• On the other hand, if TSLA loses this support line, then the bearish sentiment will prevail, and TSLA could get close to the 100 again (the next support line in the weekly chart, a long-term target);
• Therefore, this is a defining moment for TSLA stock, and we’ll have our answers very soon.
I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
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