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TheTradingStar
Aug 5, 2022 1:40 AM

$TSLA - Downward Channel Setup Short

Tesla, Inc.NASDAQ

Description

Stoch RSI in overbought and price action around top of channel, watch for repeat reversal as it has in the past. Gap near $741 to be filled.
Comments
pechi123
Looks Good! 5 waves up in TSLA complete, maybe wave A only, down in B to mid 700's. Target previous 4th price bars from 7/26-7/27, gap down between 7/21-7/20 price bars. A violation of 7/20's price bar $730.45 low would have more bearish implications, otherwise a low should form in said area then another 5 wave rally to a new recovery high in wave C countertrend rally. Meanwhile the indices are thrusting up in a terminal move from triangles and diagonals to complete A up, a violation of the June lows would mean that a countertrend rally is complete and the bear market resumes. Coming through today's wave E lows in the indices would mean the thrust is complete.
neatfreak301
Good call. Right on point. Thank you!
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