Tesla (TSLA) Price Analysis: Strong Downtrend with Further Decli
Tesla (TSLA) Price Analysis – Strong Downtrend Continues
Chart Overview:
The TSLA price chart is on the 1-hour timeframe, showing a clear downtrend.
A descending trendline has been drawn from the recent highs, confirming bearish momentum.
The price has sharply declined, and a retracement zone (shaded area) has been marked, indicating a potential area for price rejection.
A red arrow projection suggests further downside movement.
Key Observations:
Downtrend Confirmation
The price has consistently made lower highs and lower lows, confirming a bearish structure.
The red trendline shows a steady decline, with no signs of reversal yet.
Potential Retracement & Continuation
The price is approaching a resistance zone (~$300-$322) where sellers might step in again.
If the price fails to break above this zone, it is likely to continue downward.
Downside Target
The projected bearish target is near $240-$220, as indicated by the extended red arrow.
Conclusion:
Bearish Bias: TSLA is in a confirmed downtrend, with further downside expected.
Resistance Zone: Watch for price action near $300-$322; rejection could push the price lower.
Support Levels to Watch: $270, $240, and potentially $220.
Chart Overview:
The TSLA price chart is on the 1-hour timeframe, showing a clear downtrend.
A descending trendline has been drawn from the recent highs, confirming bearish momentum.
The price has sharply declined, and a retracement zone (shaded area) has been marked, indicating a potential area for price rejection.
A red arrow projection suggests further downside movement.
Key Observations:
Downtrend Confirmation
The price has consistently made lower highs and lower lows, confirming a bearish structure.
The red trendline shows a steady decline, with no signs of reversal yet.
Potential Retracement & Continuation
The price is approaching a resistance zone (~$300-$322) where sellers might step in again.
If the price fails to break above this zone, it is likely to continue downward.
Downside Target
The projected bearish target is near $240-$220, as indicated by the extended red arrow.
Conclusion:
Bearish Bias: TSLA is in a confirmed downtrend, with further downside expected.
Resistance Zone: Watch for price action near $300-$322; rejection could push the price lower.
Support Levels to Watch: $270, $240, and potentially $220.
Trade closed: target reached
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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.
Related publications
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.