TSLA: Complete Multiple Time Frame Analysis (H, D and W charts).
Hello traders and investors! Let’s see how TSLA is doing today! It has been a while, so we have a lot to catch up on.
First, in the 1h chart, TSLA is just doing a sideways correction, dancing around the 21 ema. Both Fibonacci’s Retracements, the 38.2 and 50% are doing a good job holding the price, however, even if it lost its retracements and fill the last gap at $ 847 I wouldn’t be surprised.
It is important for TSLA to do a bullish structure in the 1h chart, and this would happen the moment it breaks the $ 943.70 (purple line). This will trigger a pivot point that could lead the price above the $ 995, which is the next resistance to work with.
In the daily chart, TSLA is in a bottom area, and it is trying to react, however, I would wait for a breakout of the $ 943 just for confirmation's sake. In the last few days, it has been dropping with low volume, indicating that there’s no real sell pressure.
In addition, we see better why the $ 995 is so important, as it was a top/support level in the past, and since it is so close to the $ 1k, which is a very emblematic price for TSLA, we can assume it is an important resistance for the short/mid-term.
In the weekly chart, TSLA is trying to do a bullish candlestick pattern just above its support level at $ 900.40 (Jan 21 top), making last week drop a false breakout and a bear trap. The $ 943.70 is this week’s high too, and this is the most key point to watch on TSLA for now.
If you want to keep in touch with my daily analysis, remember to follow me and I’ll keep you updated.
First, in the 1h chart, TSLA is just doing a sideways correction, dancing around the 21 ema. Both Fibonacci’s Retracements, the 38.2 and 50% are doing a good job holding the price, however, even if it lost its retracements and fill the last gap at $ 847 I wouldn’t be surprised.
It is important for TSLA to do a bullish structure in the 1h chart, and this would happen the moment it breaks the $ 943.70 (purple line). This will trigger a pivot point that could lead the price above the $ 995, which is the next resistance to work with.
In the daily chart, TSLA is in a bottom area, and it is trying to react, however, I would wait for a breakout of the $ 943 just for confirmation's sake. In the last few days, it has been dropping with low volume, indicating that there’s no real sell pressure.
In addition, we see better why the $ 995 is so important, as it was a top/support level in the past, and since it is so close to the $ 1k, which is a very emblematic price for TSLA, we can assume it is an important resistance for the short/mid-term.
In the weekly chart, TSLA is trying to do a bullish candlestick pattern just above its support level at $ 900.40 (Jan 21 top), making last week drop a false breakout and a bear trap. The $ 943.70 is this week’s high too, and this is the most key point to watch on TSLA for now.
If you want to keep in touch with my daily analysis, remember to follow me and I’ll keep you updated.
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