DannyNoburu
Long

TSLA Analysis 4 hour chart

NASDAQ:TSLA   TESLA INC
TSLA

Sentiment: Bullish
Reasons:
1. Falling Wedge Pattern
2. Decrease in Volume During Pattern Formation
3. Hammer Candlestick at the end of Week long Downtrend

Disclaimer: this is not financial advice I am not your financial advisor. This is just my personal analysis of what I see in the charts

Comments

Looks more like a descending triangle to me. But hey....anything is possible 🤷‍♂️
+2 Reply
DannyNoburu USTRADER10
@USTRADER10, Yeah I see how some technical analysts could see that as a descending triangle, it definitely isn't an ideal falling wedge considering the lower lows of the trend aren't as prominent But I dont think the support line is entirely straight either. We'll see how it plays out thanks for the comment 👍🏼
+1 Reply
Gd job
+1 Reply
Undoubtedly nice
+1 Reply
looks like a descending triangle
Reply
DannyNoburu tearliner
@tearliner, Definitely not an ideal falling wedge because the bottom support line is declining more gradually than in most cases but if you follow the bottom trendline from the beginning of the pattern formation there is a decline of almost 60 points indicating lower highs and lower lows. Thank you for the comment 👍🏼
Reply
Hammer candle stick could mean reversal?
Reply
DannyNoburu SwissVegaPhyle
@SwissVegaPhyle, exactly 👍🏼
+1 Reply
SwissVegaPhyle DannyNoburu
@DannyNoburu, nice. Thanx bro goodluck
+1 Reply
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