🚘 Tesla Will It Really Recover? Up Fast, then Down Strong!

4 Oca 2023

We are expecting a bounce/relief rally for the Tesla (TSLA) stock and so far things look good.

We had a very strong bearish wave... It can crashing down since late 2021 but the bottom/low is not in yet.

Look at this chart:

We can expect a move up but remember that after this bounce the bear market will resume with massive force.

Let's read the chart | Tesla 2H Timeframe

- Things are looking good as a bounce happened at support.
- TSLA moving above EMA10 activates the short-term bullish potential.
- We have a gap between 118 and 122, our first target.
- We have additional gaps on the way up.

The 178 level is our main target and as you can see this level was marked as strong support in the 19-Nov-2022 trade idea.

Once a strong support level is taken out, it needs to be revisited.
So the stock is likely to move back up and play again with this level and see if it holds as resistance... If it does, which is the most likely scenario, then another drop comes.

The next drop should take prices much, much lower but it will take some time before we get there.

Since we are here everyday... We can take it step by step.

Namaste.