Hello Traders and Investors, my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Tesla💪
After Tesla stock retested the last strong support zone for bulls, the 0.786 fibonacci level at the $100 level, the recent pump over the past couple of months of more than 100% was no surprise at all.
With Tesla stock retesting the 0.382 weekly fibonacci retracement level we could already see a weekly bullish rejection away towards the upside from here.
However I am still waiting for bullish confirmation at the currect $245 support level - if we drop below the zone then I do expect a rejection at the next support which is sitting around the $215 level.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow!
Great Video here and We Agree with your point of view. That's our Analysis. Cheers.
BKTradingAcademy
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Excellent analysis and I agree with you! I also see an over-extended W formation pattern and a retest of the neckline around that $220 area, which would be more attractive for a long. Nice set up coming together!