Hello traders and investors! Let’s see how TSLA is doing today!
Despite the crash, TSLA made a very technical move that shouldn’t be a surprise to no one. As we mentioned in our yesterday analysis (link below), the moment it lost its support level, it dropped more $ 100, and now it is reacting as expected.
The support level that held TSLA today was the purple trend line along with the black line (Sep 2021’s support). This dual-support level worked nicely today, and the volume is finally increasing.
If you didn’t know better (that there’s a war going on), you would see this movement just as a retest of a support level in a bear trend.
This movement is good, but TSLA has a few challenges to overcome. Let’s see the 1h chart:
Yes, TSLA is triggering a mini pivot point, a reversal pattern. The problem is, the 21 ema is very close to the red line at $ 792, and although TSLA is breaking it right now, I wouldn’t be too greedy on this. It could easily do a correction again from here tomorrow.
If TSLA confirms another reversal sign, the gap at $ 920 will be the next target. I think that we have a good opportunity, but we should go easy on it, as the trend is still bearish. As you guys know, I always like to buy when there’s blood in the streets, but we must do it patiently, as the market confirms our thoughts, using a solid and proven strategy.
In my view, there are stocks much more interesting than TSLA, but I’ll always keep you guys updated every day on this, so remember to follow me to not miss any of my future analyses!
Despite the crash, TSLA made a very technical move that shouldn’t be a surprise to no one. As we mentioned in our yesterday analysis (link below), the moment it lost its support level, it dropped more $ 100, and now it is reacting as expected.
The support level that held TSLA today was the purple trend line along with the black line (Sep 2021’s support). This dual-support level worked nicely today, and the volume is finally increasing.
If you didn’t know better (that there’s a war going on), you would see this movement just as a retest of a support level in a bear trend.
This movement is good, but TSLA has a few challenges to overcome. Let’s see the 1h chart:
Yes, TSLA is triggering a mini pivot point, a reversal pattern. The problem is, the 21 ema is very close to the red line at $ 792, and although TSLA is breaking it right now, I wouldn’t be too greedy on this. It could easily do a correction again from here tomorrow.
If TSLA confirms another reversal sign, the gap at $ 920 will be the next target. I think that we have a good opportunity, but we should go easy on it, as the trend is still bearish. As you guys know, I always like to buy when there’s blood in the streets, but we must do it patiently, as the market confirms our thoughts, using a solid and proven strategy.
In my view, there are stocks much more interesting than TSLA, but I’ll always keep you guys updated every day on this, so remember to follow me to not miss any of my future analyses!
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👉 Join the 5%: thefinancehydra.com/
💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.
