TSLA: Bottom nailed! What's next on it?
• TSLA did a powerful bottom sign just after it hit the $165 support line, the key point that I mentioned yesterday, on our previous analysis (link below this post, as usual);
• Now, TSLA is trigged a short-term reversal structure, as it did a higher high/low, breaking a pivot point at $169.51, and it is above the 21 ema (which is pointing up now);
• So far, there’s no top signal indicating a possible correction, and since TSLA reacted above our support level, it is avoiding a sharper correction, for now.
• On the daily chart, TSLA is still bullish, as it has been following the pattern of higher highs/lows, and our key support at $165 did an amazing job yesterday;
• In addition, TSLA broke the 21 ema resistance today, which was acting as a resistance yesterday (yesterday’s high was just at the 21 ema);
• The next technical resistance is at $177, which is the previous high and the trigger point of another bullish pivot point. By breaking this pivot point, TSLA will resume the bull trend and seek higher levels, probably around $200;
• Lastly, the gap at $177.65 wasn’t filled yet, so TSLA has more upside left.
I’ll keep you updated on this, as usual. Remember to follow me to keep in touch with my daily analysis.
• Now, TSLA is trigged a short-term reversal structure, as it did a higher high/low, breaking a pivot point at $169.51, and it is above the 21 ema (which is pointing up now);
• So far, there’s no top signal indicating a possible correction, and since TSLA reacted above our support level, it is avoiding a sharper correction, for now.
• On the daily chart, TSLA is still bullish, as it has been following the pattern of higher highs/lows, and our key support at $165 did an amazing job yesterday;
• In addition, TSLA broke the 21 ema resistance today, which was acting as a resistance yesterday (yesterday’s high was just at the 21 ema);
• The next technical resistance is at $177, which is the previous high and the trigger point of another bullish pivot point. By breaking this pivot point, TSLA will resume the bull trend and seek higher levels, probably around $200;
• Lastly, the gap at $177.65 wasn’t filled yet, so TSLA has more upside left.
I’ll keep you updated on this, as usual. Remember to follow me to keep in touch with my daily analysis.
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