TSLA, Massive Channel-Formation, Potential Bear-Flag!

Hello,

Welcome to this analysis about TSLA and the daily timeframe perspectives. TSLA in recent times is struggling to maintain new highs for a time now while other high-cap stocks made new highs and the overall market determined by the indices also TSLA stayed below the all-time-high region and in this case, I discovered an important pivotal formational structure TSLA is forming here that will be a decisive factor in the upcoming times, especially when completed this can lead to increased volatilities ahead in the schedule. Therefore, as when looking at my chart now we can watch there how TSLA has formed this massive channel-formation with the coherent wave-count within the formation and the waves A and B already completed. Now as TSLA is forming the wave C in the structure it approaches the upper-boundary-range where major resistances lying forming all together the resistance-cluster marked in red where several resistances coming together. Because of the several resistance and due to the fact that TSLA is further slowing down with bullish momentum here a pullback from this level is highly likely, once established it will be crucial because when TSLA continues bearishly after that finally pulling below the point-of-control in the volume-profile this gives the indication for the continuations and finally the completion of this whole formation when TSLA closes below the lower boundary this will complete the whole formation as a bear-flag and TSLA will move on to the initial target-zone marked in red from where the situation needs to be elevated anew in terms of TSLA holding this level or just setting up for a bearish continuation, it will be an important development ahead.

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Information provided is only educational and should not be used to take action in the markets.