TSLA TA for tomorrow 8/5
Technical Analysis for TSLA
Short-Term Trading (1-3 Days)
Potential Direction: Given the bearish trend and current support tests, TSLA might continue to decline if it fails to hold above the $208.00 support level.
Entry and Exit Points
Long Entry:
Entry: Above $219.23 if it breaks above with strong volume.
Exit: Near $236.27 (first resistance) or if it drops below $219.23.
Short Entry:
Entry: Below $208.00 if it shows continued weakness.
Exit: Near $186.36 (first support) or if it climbs back above $208.00.
Long-Term Trading (Weeks to Months)
Potential Direction: Monitor if TSLA can establish a base above $208.00. A breach below this level could see a move towards the $186.36 support. If it holds, a rebound towards $236.27 or higher resistance levels is possible.
Entry and Exit Points
Long Entry:
Entry: Above $219.23, indicating a trend reversal.
Exit: Near $249.89 (higher resistance) or if price action weakens.
Short Entry:
Entry: Below $208.00, confirming further downside potential.
Exit: Near $186.36 or upon bullish reversal signals.
Additional Recommendations
Risk Management: Employ tight stop-loss orders to protect against unexpected volatility, particularly around the $208.00 level.
Monitoring: Stay updated on macroeconomic conditions and broader market sentiment which may influence TSLA’s price action.
Combining technical analysis with a close watch on market sentiment will provide a robust strategy for trading TSLA. This is for educational purposes only. It is not financial advice.
Short-Term Trading (1-3 Days)
Potential Direction: Given the bearish trend and current support tests, TSLA might continue to decline if it fails to hold above the $208.00 support level.
Entry and Exit Points
Long Entry:
Entry: Above $219.23 if it breaks above with strong volume.
Exit: Near $236.27 (first resistance) or if it drops below $219.23.
Short Entry:
Entry: Below $208.00 if it shows continued weakness.
Exit: Near $186.36 (first support) or if it climbs back above $208.00.
Long-Term Trading (Weeks to Months)
Potential Direction: Monitor if TSLA can establish a base above $208.00. A breach below this level could see a move towards the $186.36 support. If it holds, a rebound towards $236.27 or higher resistance levels is possible.
Entry and Exit Points
Long Entry:
Entry: Above $219.23, indicating a trend reversal.
Exit: Near $249.89 (higher resistance) or if price action weakens.
Short Entry:
Entry: Below $208.00, confirming further downside potential.
Exit: Near $186.36 or upon bullish reversal signals.
Additional Recommendations
Risk Management: Employ tight stop-loss orders to protect against unexpected volatility, particularly around the $208.00 level.
Monitoring: Stay updated on macroeconomic conditions and broader market sentiment which may influence TSLA’s price action.
Combining technical analysis with a close watch on market sentiment will provide a robust strategy for trading TSLA. This is for educational purposes only. It is not financial advice.
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.
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.