TSLA Bullish Island Reversal. The break last week below the recent trend line support, on the heels of the WSJ story of Tesla asking for vendor refunds, was likely a false breakdown, which is now resulting in an "island reversal", with a gap before and after. Shorts who shorted during that breakdown (sub 312) are now likely trapped on that "island". See:
stockcharts.com/arti...eversal-cmg-rtn.html
The medium term trend line is, therefore, still intact. Just my hypothesis. Let's see if it holds. If not, then there is always the possibility that the trend line will be broken again and that the gaps will be filled.
stockcharts.com/arti...eversal-cmg-rtn.html
The medium term trend line is, therefore, still intact. Just my hypothesis. Let's see if it holds. If not, then there is always the possibility that the trend line will be broken again and that the gaps will be filled.