TESLA INC shows first signs of reversal

Might go down for a correction like a side-trend if the price breaks below white dotted trendline.
Gotta look for reversal patterns in a smaller TF to confirm such scenario.
In anyway, it already looks too overbought to me.
Fib ratios a going to help us to find out the best level for the next long entry, if decline actually happens in the first place.
NOT A TRADING ADVICE, JUST AN OPINION.

Comment:

Current fib channel is adjusted to general direction of spring 2020 trendline. The steepness of the trend might have been changed, hence can be no relevant to current market condition.
Going to modify fib channel once price breaks above fib 0 line instead of breaking below white dotted line.
If it doesn’t break above fib 0 then this is the perfect chart to follow.

Comment:

IF THE PRICE DOESN'T BREAK BELOW DOTTED WHITE TRENDLINE ON MONDAY, THEN USE THIS IDEA BELOW.

Comment:

WHITE DOTTED LIINE IS STILL ACTING AS A SUPPORT TRENDLINE. ONCE PRIICE BREAKS BELOW IT, I'd short.