Interesting setup on NASDAQ:TSLA
Price was bracketing for the last four days. The high level context is certainly bullish (daily uptrend, strong market) but bulls met strong resistance as they tried to close gap from January 24th. Two possible ways to play it LONG: either from range bottom with profit target at range high and above; or wait for bullish...
TSLA 65m: Intraday Levels// Higher vol and GEX in consideration leading into key econ events. Acute Bias: Neutral to risk on//KLs marked accordingly // Invalidated <158.75// Beta: 1.94, IV: 53.82%, ATR: 7.54// Price at time of publish: 164.10
Looks like a clear channel has been formed to the upside with the price target at the intersection between the top of the channel line and the Pennant line at around $347. All Moving Averages looks like a bullish squeeze and converge about to take place
TSLA reversed into a short and now going to pick orders at the demand zone indicated which will likely be followed by a hunt of the triple top. Look for reversal patterns within the indicated range to go long. GL
