AlanSantana

Is Tesla Tired? Yes Sir!

NASDAQ:TSLA   Tesla, Inc
Our friend @TradeStation asked if Tesla ( TSLA ) is tired...

Looking at the chart above, we can easily say YES!

We have multiple bearish signals after the 1-Sept. All-Time High... Let's look at those:

  • We have a lower high.
    The peak 14-Oct. is lower than 1-Sept.

  • Decreasing daily trading volume .
    This is also a bearish signal, especially when you consider all the easy money being printed worldwide.

  • Prices closed below EMA10 and EMA21.
    346 is the first target/support (more targets on the chart).

  • The RSI moved below 50.
    Remember that the RSI is still good above 40 but moving below 50 can still be considered a bearish signal as it is starting to trend lower.

  • Rising trendline broken.
    Our rising trendline based on candle closure is now broken.

What these signals are telling us is that "YES", Tesla is tired.

Namaste.
Comment: Continues aiming lower.
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Comments

You are definitely
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Great idea
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nice
my Analysis
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great...see my idea

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Indeed. The Tesla monster was most definitely tired last week and it seemed that someone had finally tranquilized it on Friday.

This is quite bad for the Tesla monster because I do not see much support until 250.

Appreciate the confirming evidence.
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Agreed! But I think it's too early to make a definitive conclusion, I think we'll know by the end of this week.
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Thank you! πŸ¦πŸ‘πŸ»
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nice idea
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