The price for TSLA has formed a large bearish flag and we can see that the price got rejected at the top. It has formed another smaller flag within the big one. Looking for more downside!
did the same thing sept through dec before a big jump, and right before each jump before it, looks to me like its more likely to go above 800 then it is to stay bearish
pechi123
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If 4/19's low is taken out then it's possible the correction is a double ZigZag or double three with c = a @ $655, if c = 1.618 x a@ $610. That assumes a correction, the evidence points to a top though if an interim low is forming or has formed coming over $780 may be only a larger correction within a larger downtrend. If the 4/19 low holds then it's probably wave B with wave C up to come. There are 2 large gaps that in itself is a tell on 4/19 and 4/27, and the price bar highs of each prior session on 4/16 = 749.41, 4/26 = 749.30, only 11 cents between the the two and 10 days apart, that's another tell this level is very important, many times markets give very subtle clues of what comes next. It may not get back up to this level, but the weight of the evidence points to a bear market in this issue, and may have topped ahead of the larger market that's forming a top. Note that Dogecoin and TSLA are moving in tandem such are the hazards of a cult of personality. If the above scenario doesn't play out today's low is still above 4/19, and obviously fits into a more bullish upward correction, though I doubt it because the move off the low lacks impulsive price action so far.
pechi123
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Today's low is above the 4/19 low and still holding the lows of 4/12's price bar that below is a gap. There are alternate messages that the market is giving, that there seems to be rejection of lower prices here. It may be that the overall upward correction isn't done. The problem is that the SPX could be in the final phase of a bullish pattern that could take days to weeks to complete, PCC has been low for 3 days in a row and VIX hasn't made a new low since 4/14.
KlejdiCuni
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Very detailed analysis. Thanks
SaeedSajedi
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Nice job man! Sent you a PM as well
Regards
teri651
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I could't agree with you more. I think it will blow through your bottom chanel to $484 maybe. It's been overpriced for a while.
SaeedSajedi
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@teri651, Agree.my analysis shows that it first support zone is around 450 USD