Tesla Going Back To 100? Support Levels & BD-Signals
— For Tesla, Inc. (TSLA), we have a long-term downtrend, since November 2021.
— Short-term we have a double-top. July & October 2024.
— And a major long-term lower high between October 2024 and July 2023.
The stock is already in a bear-market, technically speaking, lower highs and lower lows.
— A low was hit in April 2024 and this led to present day chart structure, the double-top.
— The double-top is a lower high compared to July 2023 as mentioned above and this opens the possibility for a lower low compared to April's low; are you following?
👉 This means that TSLA will test next ~100 for the first time since January 2023, almost two years ago.
Support levels:
1) There will be a small stop around 215.
2) 180-190 is a strong support level. Partial profits would be smart here.
3) Next is April's low, both 2023 and 2024, a price range between 140-165.
4) Lower low and long-term double-bottom around 100-110.
Thank you for reading.
Namaste.
— Short-term we have a double-top. July & October 2024.
— And a major long-term lower high between October 2024 and July 2023.
The stock is already in a bear-market, technically speaking, lower highs and lower lows.
— A low was hit in April 2024 and this led to present day chart structure, the double-top.
— The double-top is a lower high compared to July 2023 as mentioned above and this opens the possibility for a lower low compared to April's low; are you following?
👉 This means that TSLA will test next ~100 for the first time since January 2023, almost two years ago.
Support levels:
1) There will be a small stop around 215.
2) 180-190 is a strong support level. Partial profits would be smart here.
3) Next is April's low, both 2023 and 2024, a price range between 140-165.
4) Lower low and long-term double-bottom around 100-110.
Thank you for reading.
Namaste.
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