TSLA: Is there any hope for it?

10 мая 2021 г.

Hello traders and investors! Let’s talk about Tesla again! After it lost our Triple-Support level, it denied the bullish thesis we discussed last week. But what it is supposed to do now?

TSLA just filled a gap in the 1h chart, and anything good that it could around here, would be great. But so far, we have no confirmation of any reversal sign.

The trend is bearish in the short-term, as we have lower highs/lows and the 21 ema is descending. We are in a good place for a reversal, but since we lack bullish signs, there’s nothing to do, but wait.



The daily chart suggests it could drop below the $ 600 again, something around the $ 590. But the low volume makes us wonder if this is a real movement or not.

Tesla is dropping due to a systemic sell-off in the tech stocks, not something related to the company. In this case, if the NDX reverses, it could easily take Tesla with it in the mid-term.

In the lack of new evidence, we must wait for more signs. But if Tesla does anything good around this support level, it would be a great sign for the mid/long-term investors.

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