Stargazer_fx

TESLA forming Triangle pattern, wait for the breakout..

NASDAQ:TSLA   Tesla, Inc
TESLA
the price is forming a triangle like structure, I expect the price to range for some time and If price manages to break above the structure(triangle) I expect the price to move higher.
In case, If price breaks below the support, It will be a very big bearish sign for TSLA ..

Contrary to popular opinion, a descending triangle can be either bearish or bullish . Traditionally, a regular descending triangle pattern is considered to be a bearish chart pattern. However, a descending triangle pattern can also be bullish . In this instance it is known as a reversal pattern.




Push LIKE & SUPPORT the Idea...
*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.

Comments

I wonder if Burry is still in his TSLA short trade...
+1 Reply
@hh098, I bet he is. Real fireworks haven't even started
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Ford kinda smacked them down .. i would sell and move to Ford. Crazy I know.
+1 Reply
@NOYZfm, funniest thing I read today
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I don’t know. As much as I would love TSLA to break higher, that pattern looks like a descending triangle and on the monthly the MACD looks like it’s gonna go bearish
+1 Reply
hieuimba sftimeless
@sftimeless, yes, contrary to popular beliefs multiple retests of a level actually weakens it
+2 Reply
That's a descending triangle. It's bearish. Same as dogecoin
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Excellent work , thanks mate ;)
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Good job 👍, thanks for sharing 😊
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