Tesla seems to have broken out of downward channel and has found support at anchored VWAP.
Two short term trade ideas depending on next coming days price action :
Bullish case : Break out of volume shelf at 722 , go long with 740 target.
Bearish case : More likely IMO given MACD and OBV looking for a retest of the channel. Break below VWAP of 692 go in short with 670 first target, with 640 being the next and retest, expect a bounce here or 630 and lower comes next.
Two short term trade ideas depending on next coming days price action :
Bullish case : Break out of volume shelf at 722 , go long with 740 target.
Bearish case : More likely IMO given MACD and OBV looking for a retest of the channel. Break below VWAP of 692 go in short with 670 first target, with 640 being the next and retest, expect a bounce here or 630 and lower comes next.
Comment:
nice rejection, following the path for a channel retest then next move up