TSLA Daily Chart

13 Ağu 2022

Corrective sloping Downtrend, TSLA has broken out of range bound at 750 area, but has yet to retest. We are above midline with target to upper limit of downtrend above. Consolidation here with a strong bull day on Friday, stuck at 900. Bulls want follow through and a break to new high in this breakout uptrend. Would expect bears to defend big 1000 mental round number if we get there. Bears are looking for a break down out of this consolidation and retest of 750-760 break out area. Short term traders can pay the lower timeframes to these targets as your lower TFs indicate as we move either way. This is a big picture Daily look. Current move up is not impulsive so a breakout of the bigger corrective downtrend would be a 'surprise' and would need a consolidation above the TL for more buying to be wise. We are a ways in time from that however we can watch and see. Happy trading!