TECHNICAL ANALYSIS: TSLA is currently in a 4X bull pattern. This means all 4 of our indicators are pointing in the same direction. Our linear regression indicator is in a bullish pattern, our money momentum indicator is shifting higher, we have a green dot representing a key ema crossover to the upside and lastly out middle band is displaying bull market momentum. If we can break out about this wedge formation on the 4H timeframe I do believe we could potentially see TSLA test the $1000 mark again in the coming weeks. Thanks for following!
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Hit that upper wedge in the early AM up to about 914 or so and it was all down hill from there to pretty much close to its open price. Where are we going? My guess is everyone is waiting for the Jackson Hole meeting.
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@a914freak Yes I agree with you. That meeting will be important. Either way typically whichever way it breaks the wedge pattern it will do quite dramatically. Will have to wait and see but I'm stating optimistic of a rally.