This is a technical analysis chart of Tesla, Inc. (TSLA) on a 4-hour timeframe.
Key Observations:
Fibonacci Retracement & Extension Levels
Fibonacci retracement levels are plotted, showing key resistance and support areas.
The 1.618 Fibonacci extension level (~298.30) is acting as a key support zone.
The price is currently near this support, suggesting a possible reversal.
Bearish Trend & Support Test
Tesla has been in a downtrend, making lower highs and lower lows.
The latest price action suggests a sharp decline, reaching strong historical support.
Potential Bullish Reversal (Red Arrow Projection)
The chart indicates a potential bounce from the 298-300 support zone.
A bullish recovery could aim toward Fibonacci levels at 406 (1.0), 443 (0.786), and 473 (0.618) as resistance levels.
Conclusion:
If TSLA holds above the 298 support, a bullish reversal could push prices higher.
A break below 298 could lead to further downside.
Traders should watch for confirmation signals like strong bullish candles or increased volume before entering a trade.
Key Observations:
Fibonacci Retracement & Extension Levels
Fibonacci retracement levels are plotted, showing key resistance and support areas.
The 1.618 Fibonacci extension level (~298.30) is acting as a key support zone.
The price is currently near this support, suggesting a possible reversal.
Bearish Trend & Support Test
Tesla has been in a downtrend, making lower highs and lower lows.
The latest price action suggests a sharp decline, reaching strong historical support.
Potential Bullish Reversal (Red Arrow Projection)
The chart indicates a potential bounce from the 298-300 support zone.
A bullish recovery could aim toward Fibonacci levels at 406 (1.0), 443 (0.786), and 473 (0.618) as resistance levels.
Conclusion:
If TSLA holds above the 298 support, a bullish reversal could push prices higher.
A break below 298 could lead to further downside.
Traders should watch for confirmation signals like strong bullish candles or increased volume before entering a trade.
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Penerbitan berkaitan
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.