If you look left, there is another top at this level, so this could also be called multiple tops with a recent triple top.
Price is still above the .382 of the trend up.
Price is above the support line of the rectangle which is also the support line for the multiple tops pattern. Until broken, this level is a source of support.
Price was in a channel up and the lower trendline has been violated for now.
No recommendation.
Short with a break of he neckline of 279.65 and a confirmed downtrend.
Comment
⋅
It just looks like too many resistance trendlines are in the way that may hinder TSLA from hitting new highs, but you never know with this one I suppose.
Thanks for sharing your detailed analysis.. btw is the number on the bottom channel-line labeled correctly? Looks as if it’s closer to 265 than 279.
lauralea
⋅
@puzzledDove28538, 208.69 is the low of that candle that day. I mark it for future reference sometimes. I am not the greatest at drawing channels either! LOL But it was a double bottom at that level with the 2 bottoms being very close in price.