$TSLA made bearish divergence
TSLA made an all-time high on September 01, 2020, by touching 502.49(adjusted price). After that, it made a deep pullback and made a low of 329.88 on Sept 08, 2020, but got the support around EMA-50 and bounced back and touched 461.94, a lower high. And again made a pullback and touched 351.30 and again got support from EMA-50 and bounced back and subsequently made higher highs and higher lows but failed to touch ATH.
Though the price was making higher highs the oscillator is making lower high, a bearish divergence indicating the latent weakness of price, moreover, the volume is also decreasing gradually, maybe due to gradual selloff from the smart monies.
However, technically TSLA is consolidating in between ranges marked in the chart. The first range is between 466 - 405 and the broader range is between 503 - 329, unless it breaks the lower boundary of the range the long-term uptrend is valid IMHO.
Though the price was making higher highs the oscillator is making lower high, a bearish divergence indicating the latent weakness of price, moreover, the volume is also decreasing gradually, maybe due to gradual selloff from the smart monies.
However, technically TSLA is consolidating in between ranges marked in the chart. The first range is between 466 - 405 and the broader range is between 503 - 329, unless it breaks the lower boundary of the range the long-term uptrend is valid IMHO.
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