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candy_man_
Sep 26, 2021 3:54 PM

Tesla larger ABCD pattern target Short

Tesla, Inc.NASDAQ

Description

We broke and closed above the resistance level ~763 while also trading in the upper trading range box - while this could mean we go near ATH it could also turn around and go back into the middle trading range - esp. due to levels and previous bearishness and 'event' area at this area. Next level is at ~780 (this level have been hit almost exactly before) - if rejected it is forming a double top pattern (most retail traders does not spot this type of DT) in play. Using AB=CD pattern we can see that it now targets low of the lower doubled trading range almost exactly should it get rejected at current price. Overall, I see lots of sell and short oppotunities near to medium term.
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