Tesla is currently in the middle of forming a bullish descending channel which typically consists of three bounces off the top resistance level ( 3rd bounce is yet to be played out but should within next week ), and the should come back to a third bounce off the support. This is called the three drives pattern ( bullish ).
TSLA has a small gap to close at $840 and will find support around $820 from the support line since the March 2020 dip. A break of this support would be very concerning, but having a stop loss in place would be fine as chances of a bounce from support are high. If the general market continues with the bullish sentiment, the 3.272 fib level would probably be reached on the next upwards wave ( around 6 months time )
TSLA has a small gap to close at $840 and will find support around $820 from the support line since the March 2020 dip. A break of this support would be very concerning, but having a stop loss in place would be fine as chances of a bounce from support are high. If the general market continues with the bullish sentiment, the 3.272 fib level would probably be reached on the next upwards wave ( around 6 months time )
Nota
Third top has been hit, will it breakout of this downwards channel? If not, im afraid we're likely to see around $820
Penafian
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.