Hello Traders! I hope you are doing well and on the profitable side of the markets! Here's a look at the TSLA chart today. I bring it up because even though it has been decidedly bearish, there may be a rising coming soon. How much, I don't know. The reason I say this is because it is approaching the Overextended line to the downside. This situation could lead to a bounce coming soon. Last time we were this overextended down on 27th of March '18 a good bounce followed.
Please give "thumbs up" if you appreciate. Thanks!
I'm not a financial advisor and I don't recommend trades. These are just my opinions and analysis!
Buy signal was this morning after the crazy jump from 180 support to almost 200. Look at the sell volume compared to the buy volume today... The capitulation wick is a nice touch as well. Up from here.
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@MrMarketMaker, Thanks for the comment. Yes, on my OverextendedSignals indicator a bounce in stock price often happens as it NEARS the Overdone line and never makes it to TOUCH the line, so that could very well be the case here. Good trading!