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Tesla - failed RSI support

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Following a massive 2200% rally and multiple overbought conditions (green columns), the above 10-day chart is now indicating a ‘great sell’ opportunity.

Why now?

1) On the above 10-day chart RSI breaks through support. (highlighted in blue).

2) The 2-month chart (below) printed a new candle with the close of February. A gravestone DOJI candle was printed following the oversold condition. This is a strong indication a trend reversal is very probable in the months ahead.

When to sell?

Price action on the daily is considerably oversold, a bounce back to the $850 region would be unsurprising.

1st target $507

2nd target $190

syot kilat
Dagangan aktif
Spinning top 3-month candle printed recently with confirmation undetermined from previous quarter. Neither buyers or sellers want to make a move. Does either have an edge?

Yes, the bears. Why? Price action is up 30,000% in 10 years.

Good moment to take a PUT.

syot kilat
Dagangan ditutup: hentian tercapai
The bearish structure is broken, can't ignore that.

Price action now targeting $1400.

syot kilat
Nota
Making steady progress to above target. Look for short opportunities once at $1362

syot kilat
Dagangan aktif
A 'incredible sell' signal prints on the 2-day chart after price action reaches the above target.

Is it possible price action moves higher? Sure.

Is it probable? No.

syot kilat
Dagangan aktif
This ‘short’ idea on Tesla was posted around $700 (today that would be $230 if the share split never occurred in August). Price action now down around 60% since the idea was published.

A strong bounce will be probable @ $80
Nota
Seems probable the bear market rally continues until the past upward channel support is tested as resistance. Once confirmed the downtrend shall continue. Currently down around 50% since publication.


syot kilat
Nota
** 25-30% correction is now highly probable **
Nota
there goes the first -10%...

Penafian

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