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.

Comment: Continues aiming lower.
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You are definitely
Great idea
my Analysis
great...see my idea

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