Line chart shows it all here.
Tnis is teslas decision point. We have a potential 3rd lower high lerking here. We have had 2 lower lows put in below. This can look like a bull flag here as well, but we have to wait for a confirmation breakout. Off line chart we are showing price is just sitting here at the key reistance.
On a daily EMA perspective that 200.30 area is a big deal Becuase 200 ema on Tesla has rejected trend on all of these tops since Downtrend had started. Tesla is curently popping up and down and around this 200 ema
There are a lot of potential chances for Tesla to really show some power and breakout from here even since the 153$ bottom
Personally I’d be looking for a pull back towards 188$ due to the fact of last time befor earnings dump. Tesla failed to hold it as support. So possible that Tesla would still have to come back and flip to support to prove it is ready. Howver if Tesla manages to flip 201.30-197.50 into a bullish range here then possibly that will be the area Tesla consildates
So to show if Tesla is going to break bullish we need a breakout of 202 and hold…
And if we going to break lower to retest some support below, Tesla would need to break 197 and hold below.
Good luck. I am short on Tesla at 201.30 and looking for a 197.50 break and hold. If we breakout of 202 I will close and reenter short if we lost 201.30 or fail to breakout of 205.
If this short works out then I’m looking for 190-188 area to take profit.
Tnis is teslas decision point. We have a potential 3rd lower high lerking here. We have had 2 lower lows put in below. This can look like a bull flag here as well, but we have to wait for a confirmation breakout. Off line chart we are showing price is just sitting here at the key reistance.
On a daily EMA perspective that 200.30 area is a big deal Becuase 200 ema on Tesla has rejected trend on all of these tops since Downtrend had started. Tesla is curently popping up and down and around this 200 ema
There are a lot of potential chances for Tesla to really show some power and breakout from here even since the 153$ bottom
Personally I’d be looking for a pull back towards 188$ due to the fact of last time befor earnings dump. Tesla failed to hold it as support. So possible that Tesla would still have to come back and flip to support to prove it is ready. Howver if Tesla manages to flip 201.30-197.50 into a bullish range here then possibly that will be the area Tesla consildates
So to show if Tesla is going to break bullish we need a breakout of 202 and hold…
And if we going to break lower to retest some support below, Tesla would need to break 197 and hold below.
Good luck. I am short on Tesla at 201.30 and looking for a 197.50 break and hold. If we breakout of 202 I will close and reenter short if we lost 201.30 or fail to breakout of 205.
If this short works out then I’m looking for 190-188 area to take profit.