• TSLA did a Bearish Engulfing candlestick pattern yesterday, and it is back to its 21 ema area; • If TSLA loses this 21 ema, it could seek the next support at $187 again; • TSLA is still in a congestion, and only a breakout of the $187 would reverse the bullish sentiment; • On the other hand, it has to break the previous resistance at $214 in order to trigger this Bullish Flag and seek higher levels; • So far, TSLA is in a ”no man’s land”, and any reaction inside this congestion shouldn’t be taken too seriously; • What if TSLA loses the $187? Then the next target would be the gap around $146; • TSLA is dangerously close to its support level, and the way it reacts in this area might dictate if we’ll see a downwards breakout or a bullish continuation to the resistance at $214. Either way, we’ll have our answer soon. I'll keep you updated every day on this.
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If Tesla by any chance break the support of $187 , would be still possible to pull back or it’s better to sell so to buy lower again? Thanks for your help
biggriz
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I see the gap (150) and I put on it!
CowabungaDad
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Thanks for sharing! After the recent rally in January, I won't be surprised of a correction to 146-level. A Spring correction is coming! Happens almost every year.