TSLA Re-Accumulation to Big Distribution
Updated
Topping reversal candle on the 4 hr. I see Bullish and Bearish scenarios- * Yes Tesla can go to $180 first, it has to happen before Wednesday
Bearish- pullback and double top , Rising Wedge or complete breakdown from here.
Bullish-continuation on new support trend-line past $200… to confirm V bottom recovery (Tsla is one of few stocks that will be green while Markets go red)
*** everything dependent on Markets to confirm Bull cycle or to fade the rally and begin the Final leg Down of Correction.
My Thesis,( until price action delivers a different scenario)-
I’m leaning Bearish, but with a possibility of higher high along with Bearish Divergence confirmation. Just to accumulate more retail liquidity before February selloff -Smart Money began buying in December- taking profits in February lines up with lower Tax on gains and portfolio rotation
I believe economic data or FOMC will maintain hawkishness and rug-pull the markets next Wednesday.
Macro Data:
- NYSE advance decline is supporting weakness in markets
-Retail & Smart money are completely divergent
-Put/Call ratio beginning to favor Bears
-Vix bullish divergence setup forming
-DXY, 10yr & 2yr bond yields are all rising with markets
-HYG Bonds are falling while markets advance
-Retail influx & euphoria is at highest level since 2021 & 2022 August high (LARGE SELLOFF)
- Feb & March seasonally are sell-off & Volatility spikes until April
***Everything is pointing to a Large pullback or “The Final” leg of Bearish Correction
Bearish- pullback and double top , Rising Wedge or complete breakdown from here.
Bullish-continuation on new support trend-line past $200… to confirm V bottom recovery (Tsla is one of few stocks that will be green while Markets go red)
*** everything dependent on Markets to confirm Bull cycle or to fade the rally and begin the Final leg Down of Correction.
My Thesis,( until price action delivers a different scenario)-
I’m leaning Bearish, but with a possibility of higher high along with Bearish Divergence confirmation. Just to accumulate more retail liquidity before February selloff -Smart Money began buying in December- taking profits in February lines up with lower Tax on gains and portfolio rotation
I believe economic data or FOMC will maintain hawkishness and rug-pull the markets next Wednesday.
Macro Data:
- NYSE advance decline is supporting weakness in markets
-Retail & Smart money are completely divergent
-Put/Call ratio beginning to favor Bears
-Vix bullish divergence setup forming
-DXY, 10yr & 2yr bond yields are all rising with markets
-HYG Bonds are falling while markets advance
-Retail influx & euphoria is at highest level since 2021 & 2022 August high (LARGE SELLOFF)
- Feb & March seasonally are sell-off & Volatility spikes until April
***Everything is pointing to a Large pullback or “The Final” leg of Bearish Correction
Note
Error** I mean: Yes, TSLA can go to 182 , close above $184 will be a strong case for bullish scenarioTrade closed: target reached
$183 zone accomplished - I am Taking Profits off the table and leaving 1/3 position for gap up rally tomorrow *** Bearish Divergence on Daily & 4 hrNote
for Bulls: *Let's hope TSLA does not close below $180.5 today... this could set-up a "double top pattern*Note
Even with Bearish Divergence we could see tesla rally to $190 (measured Break-out move) or even to $198 before big pullback
Note
BE CAREFUL HERE.....
Disclaimer
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.