Tesla - TSLA Remains Bearish
Updated
Looking at the most simplified chart, on July 28th Tesla saw a Bearish MA Cross Form. As well the TSI over the last coiuple of days has crossed the Zero Line and the Money Flow Index is showing that there is more money leaving the stock than entering with a fairly strong negative divergence yet the price has managed to remain relatively flat or in a consolidation move that I don't believe will last much longer. My short term Price Target of $234.74 is shown on the chart.
As well, for 14 days in a row Tesla has failed to form a candle above the 7 day moving average again confirming that the current Bearish or Downward trend is still intact.
As well, for 14 days in a row Tesla has failed to form a candle above the 7 day moving average again confirming that the current Bearish or Downward trend is still intact.
Note
I should have also mentioned that there is/will be good support around $240.00 - $241.00 so it may see another bounce there.
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