Everyone witnessed the new lows across the market with exception of a few stocks.
TSLA was one of those stocks that even after experiencing a sharp drop it managed to still hold its ground and maintain its previous bullish structure.
My expectations for the day are simple...
Expect to see some chop between 298-300
This is important since if TSLA is to remain bullish you would need to see a bounce at this level that is being retested.
A bounce at this level might encourage buyers to retest the stronghold sellers have set up around 310-312. But another test of this level will weaken sellers sentiment for the time being.
If TSLA is unable to hold above 298 then your next levels to look for are 295 and
290 with and eye to the 280 level.
TSLA was one of those stocks that even after experiencing a sharp drop it managed to still hold its ground and maintain its previous bullish structure.
My expectations for the day are simple...
Expect to see some chop between 298-300
This is important since if TSLA is to remain bullish you would need to see a bounce at this level that is being retested.
A bounce at this level might encourage buyers to retest the stronghold sellers have set up around 310-312. But another test of this level will weaken sellers sentiment for the time being.
If TSLA is unable to hold above 298 then your next levels to look for are 295 and
290 with and eye to the 280 level.
Comment:
No resistance on its way down
After the bounce @287 you can look for a retest of 298 if you see the rejection here then 280 is a safe bet.
If TSLA is able to reclaim 298 expect to see some chop while the indecision settles