Hello traders and investors! Let’s see what’s going on with Tesla today!
It just hit our target at $ 461.88, which we have been discussing since the beginning of this month (check the link below to my 1st Oct. analysis), and it finally seems it is going to seek the All Time High at $ 502. The Cup and Handle chart pattern is doing a great job in pushing the price up.
If Tesla loses the $ 461 again the trend will get weaker, yes, but the 21 ema would offer another support for the price, along with the $ 448.78, and only if Tesla loses both points, we could see a bearish reaction in the short/mid-term.
So far there’s nothing indicating such scenario, not in the hourly chart, neither in the daily chart, which we are going to analyze next:
The Triangle pattern was also triggered, so we had 2 bullish patterns in 2 different time frames (the Cup & Handle in the hourly, and the Triangle in the Daily), which is very good.
The volume is still low, and this makes the stock vulnerable. Any bad news could be a trigger for a strong bearish reaction, so, let’s be aware of this. If Tesla is serious in defeating the $ 461 for good, it would be good to see the volume increasing.
But the trend is still bullish in the short/mid-term, and there are no clear reversal signs ahead (at least not yet). And if you liked this analysis, please, support it! And follow me to keep in touch with my daily updates.
Thank you very much. Trade well.
It just hit our target at $ 461.88, which we have been discussing since the beginning of this month (check the link below to my 1st Oct. analysis), and it finally seems it is going to seek the All Time High at $ 502. The Cup and Handle chart pattern is doing a great job in pushing the price up.
If Tesla loses the $ 461 again the trend will get weaker, yes, but the 21 ema would offer another support for the price, along with the $ 448.78, and only if Tesla loses both points, we could see a bearish reaction in the short/mid-term.
So far there’s nothing indicating such scenario, not in the hourly chart, neither in the daily chart, which we are going to analyze next:
The Triangle pattern was also triggered, so we had 2 bullish patterns in 2 different time frames (the Cup & Handle in the hourly, and the Triangle in the Daily), which is very good.
The volume is still low, and this makes the stock vulnerable. Any bad news could be a trigger for a strong bearish reaction, so, let’s be aware of this. If Tesla is serious in defeating the $ 461 for good, it would be good to see the volume increasing.
But the trend is still bullish in the short/mid-term, and there are no clear reversal signs ahead (at least not yet). And if you liked this analysis, please, support it! And follow me to keep in touch with my daily updates.
Thank you very much. Trade well.
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👉 Join the 5%: thefinancehydra.com/
💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.
