TSLA: At Critical Resistance (~$208)
TSLA hit critical resistance at ~$208 today and immediately sold off, finishing the day just under at around ~$207. If it can get above
this critical zone and flip ~$208 from resistance to support than we might have already seen the bottom on TSLA. Broader market
trends do seem to be taking hold and a pullback is long over due at this point. A number of factors could trigger a short term sell off
but in general we can expect price action to really take off once the market decides what it is doing in the short term. TSLA price action
looks to me to be following a fairly predictable path, as shown above. We get a push up, followed by distribution, capitulation and
that usually leads to a further push up, once all of that has played out.
this critical zone and flip ~$208 from resistance to support than we might have already seen the bottom on TSLA. Broader market
trends do seem to be taking hold and a pullback is long over due at this point. A number of factors could trigger a short term sell off
but in general we can expect price action to really take off once the market decides what it is doing in the short term. TSLA price action
looks to me to be following a fairly predictable path, as shown above. We get a push up, followed by distribution, capitulation and
that usually leads to a further push up, once all of that has played out.
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.