TSLA – October 16, 2024
Key Levels:
Support:
217.18
213.91 (next significant volume-based support below)
Resistance:
222.36 (short-term level)
225.63 (high volume zone above)
Indicators & Setup:
Volume Profile: The bulk of the volume (blue area) suggests that the price has found balance around the 219–222 range. Below 217, a thin volume zone could trigger a sharp drop if selling pressure continues.
EMAs:
Purple Line: 161 EMA is above the candles, suggesting a bearish trend.
Blue Line: Possibly 15 EMA, curling sideways with some consolidation. No clear bullish momentum yet.
MACD: The histogram seems to be fading, showing decreasing bullish momentum, while the signal line is still slightly above the baseline.
Price Action Observations:
TSLA attempted to push higher but faced rejection around 222.36. The rejection with a bearish candle suggests sellers are active at this level.
If the price breaks 217.18, watch for further downside towards 213.91.
For upside, a break above 225.63 could lead to a continuation rally.
Scalping Setup:
Short Bias: If the price stays below 222 and fails to reclaim higher resistance, consider shorting towards the 217 level.
Long Setup: If it reclaims 222 with strong volume, target 225.63 for a scalp exit.
Disclaimer:
This analysis is for educational purposes only and should not be construed as financial advice. Always perform your own research or consult a professional before making trading decisions. Trading involves risk, and you can lose more than your initial investment.
Support:
217.18
213.91 (next significant volume-based support below)
Resistance:
222.36 (short-term level)
225.63 (high volume zone above)
Indicators & Setup:
Volume Profile: The bulk of the volume (blue area) suggests that the price has found balance around the 219–222 range. Below 217, a thin volume zone could trigger a sharp drop if selling pressure continues.
EMAs:
Purple Line: 161 EMA is above the candles, suggesting a bearish trend.
Blue Line: Possibly 15 EMA, curling sideways with some consolidation. No clear bullish momentum yet.
MACD: The histogram seems to be fading, showing decreasing bullish momentum, while the signal line is still slightly above the baseline.
Price Action Observations:
TSLA attempted to push higher but faced rejection around 222.36. The rejection with a bearish candle suggests sellers are active at this level.
If the price breaks 217.18, watch for further downside towards 213.91.
For upside, a break above 225.63 could lead to a continuation rally.
Scalping Setup:
Short Bias: If the price stays below 222 and fails to reclaim higher resistance, consider shorting towards the 217 level.
Long Setup: If it reclaims 222 with strong volume, target 225.63 for a scalp exit.
Disclaimer:
This analysis is for educational purposes only and should not be construed as financial advice. Always perform your own research or consult a professional before making trading decisions. Trading involves risk, and you can lose more than your initial investment.
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.