Island reversal spotted on TSLA

186 4 2
From bullish to neutral by a pattern.

Price trapped between 1 gap up and 1 gap down like this is called an ISLAND REVERSAL. However that pattern is one of the most underperforming pattern (see : http://thepatternsite.com/islandrev.html ) so don't draw conclusion too fast. Stock can still be very bullish .

I'd carefully wait to fall below the daily EMA (65) before calling a bearish momentum on that stock. Time will tell, in a couple of days or weeks. Keep that in your radar.
That was an efficient candle pattern.
Update1: We're entering into the Bear Zone.

Nice chart. Got a lil bear flag in it too w/ a tgt. of 240.........NFLX has same also.
Nice not usual pattern
+1 Reply
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