TSLA Technical Analysis for Tomorrow (10/14/2024)
Key Levels:
Support Levels:
$214.40: This is a key support area, where price found a reaction in recent sessions. A break below could lead to further downside pressure.
$210.00: A psychological level below $214.40 that may act as the next major support if the bearish momentum continues.
Resistance Levels:
$217.97: Immediate resistance level that TSLA would need to break to reverse the current bearish trend.
$220.00: Another important resistance zone that could potentially slow a price recovery if broken above $217.97.
Indicators:
The MACD is showing bearish momentum with the histogram reflecting increased selling pressure. The signal line remains below the MACD line, suggesting continued downside risk in the short term.
Volume: Volume is steady during the sell-off, which may indicate that sellers are still dominant in the market. A lack of strong buying volume suggests limited bullish activity at the moment.
Price Action & Trend:
Bearish Trend: TSLA has been in a clear downtrend, with lower highs and lower lows. The price action reflects continued selling pressure. If TSLA fails to hold the $214.40 support level, it could continue to test lower price targets.
Bearish Scenario: A break below $214.40 could see TSLA test the next support near $210.00. Given the bearish momentum, this level could be tested unless buyers step in to halt the decline.
Bullish Scenario: If TSLA manages to hold $214.40 and break above $217.97, there may be a short-term recovery toward the $220.00 resistance level.
Plan for Tomorrow:
Entry for Shorts: Below $214.40, targeting $210.00 or lower if bearish momentum continues.
Entry for Longs: Above $217.97, aiming for a move toward $220.00 if buyers start to show strength.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research before making any investment decisions. I am not responsible for any losses incurred from trading based on this analysis.
Support Levels:
$214.40: This is a key support area, where price found a reaction in recent sessions. A break below could lead to further downside pressure.
$210.00: A psychological level below $214.40 that may act as the next major support if the bearish momentum continues.
Resistance Levels:
$217.97: Immediate resistance level that TSLA would need to break to reverse the current bearish trend.
$220.00: Another important resistance zone that could potentially slow a price recovery if broken above $217.97.
Indicators:
The MACD is showing bearish momentum with the histogram reflecting increased selling pressure. The signal line remains below the MACD line, suggesting continued downside risk in the short term.
Volume: Volume is steady during the sell-off, which may indicate that sellers are still dominant in the market. A lack of strong buying volume suggests limited bullish activity at the moment.
Price Action & Trend:
Bearish Trend: TSLA has been in a clear downtrend, with lower highs and lower lows. The price action reflects continued selling pressure. If TSLA fails to hold the $214.40 support level, it could continue to test lower price targets.
Bearish Scenario: A break below $214.40 could see TSLA test the next support near $210.00. Given the bearish momentum, this level could be tested unless buyers step in to halt the decline.
Bullish Scenario: If TSLA manages to hold $214.40 and break above $217.97, there may be a short-term recovery toward the $220.00 resistance level.
Plan for Tomorrow:
Entry for Shorts: Below $214.40, targeting $210.00 or lower if bearish momentum continues.
Entry for Longs: Above $217.97, aiming for a move toward $220.00 if buyers start to show strength.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research before making any investment decisions. I am not responsible for any losses incurred from trading based on this analysis.
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.
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.