I called out numerous cases of bearish TSLA divergence last week. Tesla melted up regardless, but the bear divergence still applies. We can see MacD, TRIX and RSI all displaying a triple top pattern. Selloff on Friday 9/10 was all the confirmation I needed. I expect to see TSLA pullback to the 695/700 ascending support zone.
Commentaire:
The day after posting this, price dropped to 709 before immediately rallying back to previous levels. This may have been the market reaction to this bearish divergence, validating a pullback then quickly resuming a bullish trend. I closed my short position at 20% profit.