Hello traders and investors! Let’s see how TSLA is doing today!
First, we have a Gap in the hourly chart, and possibly it is a Breakaway Gap. If Tesla closes it quickly, maybe in tomorrow or in two days, then it’ll be an Exhaustion Gap, and Tesla will seek lower levels.
Right now, we are near the ATH, and there is no clear target for Tesla, but a pullback to the $ 744 wouldn’t surprise anyone here. If Tesla drops below that level and fills the gap, then the odds are that Tesla will seek the $ 718 again, or even the purple trendline.
These are my views about the short-term. Now, let’s see the daily chart:
Tesla is in a strong bull trend, and there are no pullback or reversal signs (at least not yet). As long as Tesla keeps above the $ 744, the stock will continue trending.
But if it does a pullback in the hourly chart, to the $ 718 as we mentioned, I don’t see it recovering quickly and flying again straight to the $ 900, which is my personal long-term target (target of the Pennant pattern we have been discussing in the past 2 months, in the weekly chart, if you missed my previous analyses, check the links below).
In the worst-case scenario Tesla would hit the $ 695 area, but I would focus on the $ 744 first, then the $ 718. These are the most important supports for Tesla right now and remember to follow me to keep in touch with my daily analyses! Also, support this idea if you liked!
I just became a member of finance hydra! All of this time I didn’t even notice you had service for your knowledge.
sumit065
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Nice chart. It bounced from 750 today, I am hoping for a pullback tomorrow after a run. But if it pulls back and closes above 744 on friday, is this bullish for the next week? #seeking_for_swing_suggestion