TSLA weekly analysis
TSLA is trying to form a buy setup for a failed bear breakout of the bull flag trading range after testing near the middle of the lower range and below the double bottom from October. If this week closes on its high it would be a nested wedge bull flag and failed bear breakout. However there has been some decent selling pressure over the past 10 or more weeks. If prices stall around the 3/25 buy setup, the bulls will likely exit and wait for more information and lower prices before buying again. If instead the bulls get strong follow through, prices will test the middle of the upper range and or the high of the range before deciding the move of the next direction. There is strong resistance around $350, including trapped bulls who bought the 12/10 close, therefore there will likely be profit taking in this area or a new all time high.
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