IS TESLA DISTRIBUTING? OR REACCUMULATING?
Hello my beauties.
I think TSLA is going through an interesting phase. It broke the trendline that led it to its all time high, and the sellers came in strong, stunning it sideways. For us to fully understand what is happening, we'll need to wait for some more price action.
However, the following scenarios are possible, in my opinion:
1) TSLA will give us a nice UT (upthrust) off the higher end of the trading range, and we'll know that a distribution is happening, with the subsequent downtrend that will result from it;
2) TSLA will spring out off the lower end of the TR (trading range) and give us a nice uptrend continuation.
The bias for now is neutral, as we wait for price action to give us further indications. It is something that I'll be keeping an eye on.
If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair.
Consider supporting me if you think I am providing you with value.
Peace.
Luca, TrickleDownFX
I think TSLA is going through an interesting phase. It broke the trendline that led it to its all time high, and the sellers came in strong, stunning it sideways. For us to fully understand what is happening, we'll need to wait for some more price action.
However, the following scenarios are possible, in my opinion:
1) TSLA will give us a nice UT (upthrust) off the higher end of the trading range, and we'll know that a distribution is happening, with the subsequent downtrend that will result from it;
2) TSLA will spring out off the lower end of the TR (trading range) and give us a nice uptrend continuation.
The bias for now is neutral, as we wait for price action to give us further indications. It is something that I'll be keeping an eye on.
If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair.
Consider supporting me if you think I am providing you with value.
Peace.
Luca, TrickleDownFX
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