TSLA: It just did what was expected. What to expect now?
Hello traders and investors! Let’s see how TSLA is doing today!
Since our previous analysis, last week, it did absolutely nothing surprising, as TSLA just hit our second target/resistance, and we already discussed a scenario where it would do a pullback in the daily chart:
“Even if it does a pullback, it won’t ruin the bullish bias. We have too many supports to hold TSLA if it drops, like the $ 732, the $ 717, the 21 ema , and even the purple trendline.” The link to my previous analysis is below this post, as always.
Today, the 21 ema is holding the price, and so far, we are trading above it, which is good news. What's more, we have a Dragonfly Doji in the daily chart. If we look into the 1h chart, we’ll find more clues:
Yes, TSLA did a classic Exhaustion Bar, slightly below the previous support at $ 724, and it confirmed a false breakout when it reacted above this support level.
The volume spiked as well, and now TSLA is prepared to do a real good bullish structure. So far, we only have good signs, but nothing concrete about a bullish reversal.
Let’s wait for more information in the next few days. If you liked this post, remember to follow me to keep in touch with my daily updates, and please, support this idea if it helped.
Have a good week!
Since our previous analysis, last week, it did absolutely nothing surprising, as TSLA just hit our second target/resistance, and we already discussed a scenario where it would do a pullback in the daily chart:
“Even if it does a pullback, it won’t ruin the bullish bias. We have too many supports to hold TSLA if it drops, like the $ 732, the $ 717, the 21 ema , and even the purple trendline.” The link to my previous analysis is below this post, as always.
Today, the 21 ema is holding the price, and so far, we are trading above it, which is good news. What's more, we have a Dragonfly Doji in the daily chart. If we look into the 1h chart, we’ll find more clues:
Yes, TSLA did a classic Exhaustion Bar, slightly below the previous support at $ 724, and it confirmed a false breakout when it reacted above this support level.
The volume spiked as well, and now TSLA is prepared to do a real good bullish structure. So far, we only have good signs, but nothing concrete about a bullish reversal.
Let’s wait for more information in the next few days. If you liked this post, remember to follow me to keep in touch with my daily updates, and please, support this idea if it helped.
Have a good week!
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