TSLA Bounce To $244 Incoming
This analysis combines some of the theories in Gann Analysis and the Ichimoku Kinko Hyo system.
Outlook: Extremely high probability of a bottom developing soon around the $208 value area and then returning higher to the $244 value area.
Gann And Ichimoku Analysis
There is a square of price and time in Gann's Square of 9 on the date of January 16 and the price level of $205.43.
Additionally, the GPL of Mars sits right in that same value area.
From an Ichimoku perspective, TSLA is sitting right on top of the strongest level of support/resistance within the Ichimoku system, Senkou Span B, at $208.24.
Also, there are sizeable gaps between the bodies of the candlesticks and the Tenkan-Sen on the daily chart, indicating at least some short term return to equilibrium is increasingly likely.
Not shown is Connie Brown's Composite Index. CI is right at historical support on the daily and weekly CI.
Outlook: Extremely high probability of a bottom developing soon around the $208 value area and then returning higher to the $244 value area.
Gann And Ichimoku Analysis
There is a square of price and time in Gann's Square of 9 on the date of January 16 and the price level of $205.43.
Additionally, the GPL of Mars sits right in that same value area.
From an Ichimoku perspective, TSLA is sitting right on top of the strongest level of support/resistance within the Ichimoku system, Senkou Span B, at $208.24.
Also, there are sizeable gaps between the bodies of the candlesticks and the Tenkan-Sen on the daily chart, indicating at least some short term return to equilibrium is increasingly likely.
Not shown is Connie Brown's Composite Index. CI is right at historical support on the daily and weekly CI.
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