Tesla is flashing major warning signs on the weekly chart. While price has pushed higher recently, momentum is doing the opposite โ bearish divergence on the RSI/MACD is undeniable.
๐ Price Action: TSLA is struggling to reclaim key resistance near $200โ$210. The recent rally looks exhausted, with buyers losing strength.
๐ Technical Breakdown:
RSI Divergence: Price made a higher high, but RSI made a lower high = bearish divergence
MACD Histogram Weakening: Bullish momentum is fading fast
Volume: Declining on green days, heavier on red = distribution underway
โ ๏ธ Macro Headwinds
EV competition is surging
Elon selling shares = supply pressure
Market rotation into value, not growth
๐ฏ Trade Setup (Not Financial Advice):
Entry: $195โ$205 zone
Stop: Close above $215
Targets: $180, $160, then $130 for the brave
This is a textbook swing short opportunity with a favourable risk/reward ratio. Smart money could be unloading here โ donโt get caught long at the top.
๐ Watch for confirmation on this weekโs close. If the divergence plays out, this could be a multi-week dump.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.