TSLA: False Breakout + Exhaustion Bar.
• TSLA did a false breakout from the $200, and this key point is working as a resistance again today. The $200 is our most important key point, as I already mentioned in my previous analysis (link below this post, as usual);
• Today’s movement is rejecting Friday’s candlestick, which was a powerful candle that broke the $200 resistance. This gives the impression of an Exhaustion Bar;
• In order to avoid a sharper correction, TSLA would need to do a bullish reaction as soon as possible. Otherwise, it could drop all the way down to the $187 again;
• The $187 is our key support, and only if TSLA loses it, the trend will reverse and become bearish again;
• So far, TSLA has been doing higher highs/lows. It broke the previous top last Friday, and if TSLA finds a support above the $187 area, this will reinforce a bullish thesis;
• In this scenario, TSLA would just keep trending, and the $217 would be its next target. It all depends on how it’ll react in the next couple of days;
• For now, it appears TSLA triggered an Exhaustion Bar, and as the name suggests, this indicates exhaustion. I’ll keep you updated on this, as usual.
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• Today’s movement is rejecting Friday’s candlestick, which was a powerful candle that broke the $200 resistance. This gives the impression of an Exhaustion Bar;
• In order to avoid a sharper correction, TSLA would need to do a bullish reaction as soon as possible. Otherwise, it could drop all the way down to the $187 again;
• The $187 is our key support, and only if TSLA loses it, the trend will reverse and become bearish again;
• So far, TSLA has been doing higher highs/lows. It broke the previous top last Friday, and if TSLA finds a support above the $187 area, this will reinforce a bullish thesis;
• In this scenario, TSLA would just keep trending, and the $217 would be its next target. It all depends on how it’ll react in the next couple of days;
• For now, it appears TSLA triggered an Exhaustion Bar, and as the name suggests, this indicates exhaustion. I’ll keep you updated on this, as usual.
Remember to follow me to keep in touch with my daily analysis!
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