V bottom pattern
On the daily chart, it can be seen that Tesla is currently in a V Bottom pattern (usually bullish). The price has formed a bottom and the bulls were able to recover it at the same pace, although a gap was left around 1150 that has not been filled. This imbalance is often filled, but it is not necessary, but it is something to keep in mind. In the event of such a drop, it is important to maintain this gap zone in order to continue upward. Ultimately, the most important level to watch is $100, as a breakthrough of this level can cause additional bearish momentum and automatically print a new Lower Low.
To create a bullish momentum, I would like to see the resistance line broken and the price eventually break through $237.40 to print a nice new High. The visible #ma lines are the MA50 and MA200 of the week chart. Note that if the price falls below the MA200, this could have a bearish outcome, as was seen in the earlier decline in early January.
The rsi is currently approaching the oversold zone, which could be positive. The macd must remain above the zero line to remain bullish, as a bearish momentum can occur when the #macd falls below the zero line. Since the beginning of this year, the volume has significantly increased, but since February, it seems to have decreased somewhat.
The quarterly results are scheduled for after hours on April 19, 2023.
To create a bullish momentum, I would like to see the resistance line broken and the price eventually break through $237.40 to print a nice new High. The visible #ma lines are the MA50 and MA200 of the week chart. Note that if the price falls below the MA200, this could have a bearish outcome, as was seen in the earlier decline in early January.
The rsi is currently approaching the oversold zone, which could be positive. The macd must remain above the zero line to remain bullish, as a bearish momentum can occur when the #macd falls below the zero line. Since the beginning of this year, the volume has significantly increased, but since February, it seems to have decreased somewhat.
The quarterly results are scheduled for after hours on April 19, 2023.
Tims.Technische.Analyse by TIMTIBBO
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