Tesla (TSLA) has been trading within a 3-month Channel Down, having turned early on the 1D MA50 (blue trend-line) to its Resistance. Since last Thursday, it also lost its 1D MA200 (orange trend-line) and the 1W MA50 (red trend-line), which was the long-term Support.
Ahead of a 1D Death Cross, with the 1D RSI also staying below its Lower Highs Resistance, yesterday's failure to reclaim the 1D MA200 can deliver a new round of selling towards the bottom of the Channel Down. It's first Bearish Leg completed a -22.40% drop, so if the current one repeats it, we are staring at a $340 short-term Target.
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Ahead of a 1D Death Cross, with the 1D RSI also staying below its Lower Highs Resistance, yesterday's failure to reclaim the 1D MA200 can deliver a new round of selling towards the bottom of the Channel Down. It's first Bearish Leg completed a -22.40% drop, so if the current one repeats it, we are staring at a $340 short-term Target.
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