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TSLA Weekly Analysis

NASDAQ:TSLA   TESLA INC
TSLA so far is stalling this week, and is at least temporarily finding support. This is when the bears need to be the strongest. The selling over the past three weeks has been climactic, and is more likely exhaustion (sell vacuum) than bear acceleration. The bulls want some form of a double bottom around the 175 swing low. If they get one, they will likely get a test of the bear breakout around 250 or back into the trading range. The bears need strong follow through selling below 175 and below the 145 low. Even if they get it, prices will still be within a large bull flag trading range and will likely find support around the 125 start of the bull channel . If this week closes on its high it will increase the likelihood of a test higher before lower. If instead there is a bear breakout and another bear close, prices will likely continue lower and test the mentioned support levels.

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