Hello all, and thanks for supporting the channel.
Looking at TSLA on the weekly timeframe we see that the price of TSLA once again is inside a descending/downtrending channel.
We have two previous rejections on top of this channel with over 30% drops, and I believe we can see third 30% drop too.
The long ascending line has a support point at around $240, and also the Fixed Range Volume Profile provides a point of control at this same price.
With the weekly RSI being in the overbought territory, and the CM_Ultimate calling for a drop, TSLA can fall all the way to $185 if the $240 level fails.
We can then expect a bounce from the 200 week EMA.
Thanks for reading, and stay tuned. Enjoy.
Looking at TSLA on the weekly timeframe we see that the price of TSLA once again is inside a descending/downtrending channel.
We have two previous rejections on top of this channel with over 30% drops, and I believe we can see third 30% drop too.
The long ascending line has a support point at around $240, and also the Fixed Range Volume Profile provides a point of control at this same price.
With the weekly RSI being in the overbought territory, and the CM_Ultimate calling for a drop, TSLA can fall all the way to $185 if the $240 level fails.
We can then expect a bounce from the 200 week EMA.
Thanks for reading, and stay tuned. Enjoy.
Nota
RSI is oversold in 4HR, 1D, and 1 week timeframes.Nota
If the $205 level doesn't hold, we will see another 20% drop towards the $180.Nota
I think we will see the TSLA price below $200 when the market opens.Nota
Update on the 200 EMA. Currently at $160.Nota
And we hit the target today. I see more downside.Nota
Perfect price action for TSLA this week. 2 targets hit and one more to go. I still believe we will hit $160 and fill our last buy in order for this stock.
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.
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.