TSLA: Could it hit the $1k again? Let's see.
Hello traders and investors! Let’s see how TSLA is doing today!
It has been doing nothing surprising, since our last analysis, however, it is important to stress how important the $ 943 area is. Today is the third time it is retesting this resistance after our previous analysis, when we identified it. Link to my previous analysis is below this post.
As long as TSLA stays below the $ 943, we'll hardly see anything new. The retracements are working as support levels for TSLA, but today we couldn’t hit even the 38.2% retracement, indicating some strength.
The volume is decreasing in the daily chart, and this helps to explain why TSLA lacks strength to break the $ 943 area. We have a target near the $ 1k area, which seems to be an important price level for TSLA, but the confirmation will only come by breaking the $ 943 for good.
There’s nothing indicating we’ll see a pullback for now, but if we do, the retracements in the 1h chart are support levels that will probably hold the price. In the worst-case scenario, we will fill the gap at $ 847.
In my view, it is good to see TSLA accumulating, but this movement must not last for too long, or it’ll be a sign of weakness. I’ll keep you guys updated, so remember to follow me to keep in touch with my insights on TSLA and other stocks/indices.
Have a good day.
It has been doing nothing surprising, since our last analysis, however, it is important to stress how important the $ 943 area is. Today is the third time it is retesting this resistance after our previous analysis, when we identified it. Link to my previous analysis is below this post.
As long as TSLA stays below the $ 943, we'll hardly see anything new. The retracements are working as support levels for TSLA, but today we couldn’t hit even the 38.2% retracement, indicating some strength.
The volume is decreasing in the daily chart, and this helps to explain why TSLA lacks strength to break the $ 943 area. We have a target near the $ 1k area, which seems to be an important price level for TSLA, but the confirmation will only come by breaking the $ 943 for good.
There’s nothing indicating we’ll see a pullback for now, but if we do, the retracements in the 1h chart are support levels that will probably hold the price. In the worst-case scenario, we will fill the gap at $ 847.
In my view, it is good to see TSLA accumulating, but this movement must not last for too long, or it’ll be a sign of weakness. I’ll keep you guys updated, so remember to follow me to keep in touch with my insights on TSLA and other stocks/indices.
Have a good day.
⚠️ Want to take your trading to the next level?
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com
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.