TSLA Bull or Bear Range Breakout?
Hi there,
As per usual I will mention in the beginning of my posts that I am a day trader and look to take advantage of minor movements in the markets. However I do analyze larger timeframes and will post things that catch my attention and possibly yours.
First thing to note is that every $2.00 movement is a key level I look at that being said these are my thoughts of potential price movement for TSLA:
Hourly --> On March 16th the vwap crossed above the 20ema signalling a bullish movement for TSLA which continued until March 23rd
--> From March 23rd - 25th TSLAs price has been stuck in a consolidation boxed range as shown with the purple box drawn above on my chart. $985.00 would be the bottom of the range and $1,027.00 would be the top of the range
--> You can see with my awesome oscillator indicator that bullish momentum is weakening however the stochastic rsi indicator has been sustaining oversold levels for days now meaning we could easily see a continuation of a short term bull trend making higher highs passed $1,040.00
Happy Saturday everyone!
As per usual I will mention in the beginning of my posts that I am a day trader and look to take advantage of minor movements in the markets. However I do analyze larger timeframes and will post things that catch my attention and possibly yours.
First thing to note is that every $2.00 movement is a key level I look at that being said these are my thoughts of potential price movement for TSLA:
Hourly --> On March 16th the vwap crossed above the 20ema signalling a bullish movement for TSLA which continued until March 23rd
--> From March 23rd - 25th TSLAs price has been stuck in a consolidation boxed range as shown with the purple box drawn above on my chart. $985.00 would be the bottom of the range and $1,027.00 would be the top of the range
--> You can see with my awesome oscillator indicator that bullish momentum is weakening however the stochastic rsi indicator has been sustaining oversold levels for days now meaning we could easily see a continuation of a short term bull trend making higher highs passed $1,040.00
Happy Saturday everyone!
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