Weekly TSLA Short
Dear traders,
today we are going to talk about TSLA and its current landscape.
Convergence of price actions and indicators leads TSLA to a probably short movement in the very near future.
The details of our analysis is highlighted in the chart above.
Thanks for reading and sharing your comments if you like it.
Disclaimer: this is only educational content, and never should be used or take it as financial advice.
today we are going to talk about TSLA and its current landscape.
Convergence of price actions and indicators leads TSLA to a probably short movement in the very near future.
The details of our analysis is highlighted in the chart above.
Thanks for reading and sharing your comments if you like it.
Disclaimer: this is only educational content, and never should be used or take it as financial advice.
Note
Explanation:First, there is a horizontal channel breakout. First target may be at least equals to the height of the broken channel.
Then, the previous target converges with the Fibonacci extension 2.272 of the last impulse.
According to indicators, the RSI of the last 21 weeks shows that the price is clearly overbought.
The Chaikin Money Flow is a momentum indicator that shows that for the last 2 weeks, sellers where stronger than buyers while the price is going up.
And finally, Cycles are the rhythm of the market and they give us an indication of when to buy and sell. It's for timing. Currently, it shows that the bearish movement has started.
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.