Tesla
Tesla’s Driving Downward to a Bearish Destination of $190!
1. Price Formation: The price has broken from an inverted reverse C&H price formation on a daily chart.
2. Moving Averages: The 7-day moving average (MA) is below the 21-day MA, which is a positive sign indicating short-term bearish momentum.
3. 200-day Moving Average is below the Price.
4. Thus, Mas 7>21, price > 200. Price will attempt to get closer to the 200 moving average
5. Relative Strength Index (RSI): The RSI is < than 50, indicating bearish momentum and potential further downward movement.
6. Price Target: $190
Tesla’s Driving Downward to a Bearish Destination of $190!
1. Price Formation: The price has broken from an inverted reverse C&H price formation on a daily chart.
2. Moving Averages: The 7-day moving average (MA) is below the 21-day MA, which is a positive sign indicating short-term bearish momentum.
3. 200-day Moving Average is below the Price.
4. Thus, Mas 7>21, price > 200. Price will attempt to get closer to the 200 moving average
5. Relative Strength Index (RSI): The RSI is < than 50, indicating bearish momentum and potential further downward movement.
6. Price Target: $190