First off - to say I bat 500 on TSLA tech analysis is suppppper generous at best. I mean go see my last one, a bullish elliott wave theory (wrong). This thing is a complicated beast.
In effort to not overbake this,
1. we have some fib levels
2. we have some ema's
2a. we lost the 200 d ema (reclaim it asap or perish)
2b. daily ema's threatening or actively downward crossing
3. we have identified a longterm trendline broken (reclaim it asap or perish)
because of the above, I'm seeing 503 (treat it more as a +/- 3$ more than a perfectly specific target) as an eventual target before seeing if support is found. This will be a much more convincing destination IF 551 is able to be broken and held on the downside.
Not advice.
Not great at this.
Just an idea - loose TA mixed with moderate experience.
In effort to not overbake this,
1. we have some fib levels
2. we have some ema's
2a. we lost the 200 d ema (reclaim it asap or perish)
2b. daily ema's threatening or actively downward crossing
3. we have identified a longterm trendline broken (reclaim it asap or perish)
because of the above, I'm seeing 503 (treat it more as a +/- 3$ more than a perfectly specific target) as an eventual target before seeing if support is found. This will be a much more convincing destination IF 551 is able to be broken and held on the downside.
Not advice.
Not great at this.
Just an idea - loose TA mixed with moderate experience.
Order cancelled:
TSLA regained the 200d EMA and defended the following day.
This was one of the key conditions of a bearish idea - now more optimism for upside continuation unless we see that EMA break again.
This was one of the key conditions of a bearish idea - now more optimism for upside continuation unless we see that EMA break again.