Very speculative post as I don't usually like charting TSLA, as it's a bit of a wild one, and the Musk train (choo choo!) is very powerful.
However, looking at it, TSLA is facing strong resistance at 705-715 level, and recent rejection at this level despite good China sales data, might bring this back down a bit to the rising trend line. Expecting this to pinball back and forth between this resistance and old support areas, in an ascending triangle fashion before an eventual breakout to the upside:
If it falls through instead, it's longer term trend is still pretty okay. My sentiment would change if it fell through 200 day SMA quickly.
However, looking at it, TSLA is facing strong resistance at 705-715 level, and recent rejection at this level despite good China sales data, might bring this back down a bit to the rising trend line. Expecting this to pinball back and forth between this resistance and old support areas, in an ascending triangle fashion before an eventual breakout to the upside:
If it falls through instead, it's longer term trend is still pretty okay. My sentiment would change if it fell through 200 day SMA quickly.
Comment
Not quite as I forecast but definitely couldn't beat the downtrend line:Disclaimer
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