TSLA, In Determined Channel-Formation, Scenarios To Consider!

Hello Traders Investors And Community,

Welcome to this analysis about TSLA, we are looking at the 12-hour timeframe perspectives. TSLA since forming the high at 900 has firstly shown up with these heavy bearish alignments that should firstly not be kept by side in this whole structure. Furthermore, I detected an important formation TSLA is forming here which will be the decisive factor in the upcoming times, therefore I detected all the important levels and likely destinations we should consider with TSLA in the established structure and upcoming movements.

As when looking at my chart we can watch there how TSLA built this main ascending-channel-formation in this structure with a coherent wave-count within this formation and the waves A, as well as B, already finished. Now as TSLA moved into the lower-boundary of the channel and bounced there this was the origin of the wave C to the upside which is now in development and is likely to approach the upper boundary and especially the distribution zone lying there, it is still an important zone as TSLA is likely to pull back there firstly and test the lower levels in the channel-formation before moving on with further determinations. In this case there are two potential scenarios when TSLA reaches the decision-zone, the first is a bounce to the upside in this structure from where TSLA can have the ability to built upon to possibly emerge with an upside-channel-breakout when this bullishness can hold on, the second scenario is that the bearish pressure holds and TSLA moves below the decision-zone which will lead to the testing of the lower boundary and in this case when the bearishness keeps holding on this can continues bearishness can also convert the channel into a bear-flag when TSLA moves below.

These are the two main scenarios important to elevate next times after TSLA reached the distribution zone and pulled back from there and it is necessary to keep patient and await the final confirmation of either scenario A or B than to rush into final conclusions. Both ways have their own characteristics and only when the confirmation settled an appropriate action can be taken into the consideration. It will be an important development ahead.

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Information is only educational and should not be used to take action in the market.

Comment:

ANALYSIS UPDATE: TSLA moved forward to complete the whole wave count within the major channel formation to finally emerge with a massive breakout.

TSLA after finally finding support in the range structure and continuing with the breakout reached all of the prevalent target zones in the schedule.