📉 Tesla | Fake Move = SHORT (Goodbye!)

➖ The current move on the Tesla stock (TSLA) is not supported by market fundamentals and can thus be considered weak.

➖ A weak counter-trend move can be used as an opportunity to sell (SHORT) by smart individuals/traders.

➖ The Tesla stock (TSLA) is set to drop long-term based on the individual stock long-term price dynamics. It is likely the best is already in the past. Move on to new things... Or so the chart says.

See the related ideas below for more.

Thank you for reading.

Namaste.

Comment:

It went higher than expected, but we still consider current price action as a dead cat-bounce that will lead to a lower low compared to 22-Apr. TSLA going below 138.

Comment:

➖ After a failed bounce, TSLA resumed to move back below EMA50; the bearish bias now fully confirmed.

👉 A lower high will lead to a lower low.
➖ The last low happened at 138. This is the support level that was recently challenged and will be challenged next.

➖ When this situation shows up, we don't know if support will break or hold.
The fact that we have a lower high after the recent low was hit, means that the bears have the upper-hand.

➖ The bearish bias remains intact!
👉 TSLA is set to continue lower.

Namaste.