TSLA: Where's the next resistance? Is this a Dead Cat Bounce?
Hello traders and investors! We successfully identified yesterday as a bottom level, and today it is going up sharply after it triggered the key point we mentioned.
In our previous study, I mentioned the $ 896 as our main key point. Today it broke this point by doing a Gap, making it a Breakaway Gap. TSLA could retest the $ 896 as a support again in the future, and this wouldn’t ruin the bullish bias – in fact, it could just be another buy sign.
It must not lose this support again, though, as the gap at $ 847 might work as a magnet for the price. However, as long as we stay above this line, TSLA will remain bullish.
Now, it seems we are just heading to the $ 943, and if we don’t see anything surprising, we could hit it this week.
When we look at the daily chart, we see that TSLA is reacting at its Fibonacci’s Retracements, and as I mentioned in our last study, this is the best place for a reaction. The link to my previous analysis is below this idea, as usual.
It seems to me TSLA is heading to the $ 943, but I agree that the 21 ema might offer some resistance in the short-term. If we fail in breaking the ema, the market might see this just as a Dead Cat Bounce, and this is why we must pay attention to this level in the next few days.
Yes, TSLA has its risks, but given today’s reaction, it seems it is becoming bullish again. Let’s follow it closely from now on, and I’ll keep you guys updated on this, so, remember to follow me to not miss my daily analyses.
In our previous study, I mentioned the $ 896 as our main key point. Today it broke this point by doing a Gap, making it a Breakaway Gap. TSLA could retest the $ 896 as a support again in the future, and this wouldn’t ruin the bullish bias – in fact, it could just be another buy sign.
It must not lose this support again, though, as the gap at $ 847 might work as a magnet for the price. However, as long as we stay above this line, TSLA will remain bullish.
Now, it seems we are just heading to the $ 943, and if we don’t see anything surprising, we could hit it this week.
When we look at the daily chart, we see that TSLA is reacting at its Fibonacci’s Retracements, and as I mentioned in our last study, this is the best place for a reaction. The link to my previous analysis is below this idea, as usual.
It seems to me TSLA is heading to the $ 943, but I agree that the 21 ema might offer some resistance in the short-term. If we fail in breaking the ema, the market might see this just as a Dead Cat Bounce, and this is why we must pay attention to this level in the next few days.
Yes, TSLA has its risks, but given today’s reaction, it seems it is becoming bullish again. Let’s follow it closely from now on, and I’ll keep you guys updated on this, so, remember to follow me to not miss my daily analyses.
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