TSLA is still in a big down channel/falling wedge. Even price fell very strongly, it didn't bounce as expected which indicates big investors defend the 100$ price but don't want to pay more for now. It is at major resistance now, 20 days MA (green lčine) and upper line from Chanel.
Volume is still very strong which is a sign of capitulation and a possible longer-term bottom.
RSI moved out of oversold territory just as I said in the last analyses.
MACD histogram is ticking up and looks very bullish while MACD and signal line also moves up.
Overall: TSLA is at major resistance and in the fact, on 25 January it will post financial results I am not giving too much chance for the price to break out of the pattern and start a strong move up before the report. It is more likely (as we didn't see already v-shape bottom recovery last 5 days) that it will retest low and will consolidate on this level until we see a report which will move this stock like a rocket. Be careful.
In case it moves up and closes above the green line and upper channel line would be very bullish and fast.
In case it falls below the last low and breaks 100$ which is one of the biggest psychological areas of support would be very bearish and indicate more fall.
Volume is still very strong which is a sign of capitulation and a possible longer-term bottom.
RSI moved out of oversold territory just as I said in the last analyses.
MACD histogram is ticking up and looks very bullish while MACD and signal line also moves up.
Overall: TSLA is at major resistance and in the fact, on 25 January it will post financial results I am not giving too much chance for the price to break out of the pattern and start a strong move up before the report. It is more likely (as we didn't see already v-shape bottom recovery last 5 days) that it will retest low and will consolidate on this level until we see a report which will move this stock like a rocket. Be careful.
In case it moves up and closes above the green line and upper channel line would be very bullish and fast.
In case it falls below the last low and breaks 100$ which is one of the biggest psychological areas of support would be very bearish and indicate more fall.
Consistency is the key of success....
Breakout will have to be on very strong volume, otherwise, we will retest lows.