Is Tesla Tired? Yes Sir!

Our friend @TradeStation asked if Tesla (TSLA) is tired...

Looking at the chart above, we can easily say YES!

We have multiple bearish signals after the 1-Sept. All-Time High... Let's look at those:

• We have a lower high.
  The peak 14-Oct. is lower than 1-Sept.
  
  
• Decreasing daily trading volume.
  This is also a bearish signal, especially when you consider all the easy money being printed worldwide.
  
  
• Prices closed below EMA10 and EMA21.
  346 is the first target/support (more targets on the chart).
  
  
• The RSI moved below 50.
  Remember that the RSI is still good above 40 but moving below 50 can still be considered a bearish signal as it is starting to trend lower.
  
  
• Rising trendline broken.
  Our rising trendline based on candle closure is now broken.
  

What these signals are telling us is that "YES", Tesla is tired.

Namaste.

Commentaire:

Continues aiming lower.