Tesla - False Bullish Breakout!
Updated
Tesla (
TSLA) is almost back below resistance:
Click chart above to see the detailed analysis👆🏻
Last month, Tesla finally managed to close above the resistance trendline of the long term descending triangle continuation pattern. However over the past couple of days, Tesla stock then tumbled and is now trading below the trendline, potentially creating a false breakout.
Levels to watch: $160, $220
Keep your long term vision,
Philip (BasicTrading)
TSLA) is almost back below resistance:Click chart above to see the detailed analysis👆🏻
Last month, Tesla finally managed to close above the resistance trendline of the long term descending triangle continuation pattern. However over the past couple of days, Tesla stock then tumbled and is now trading below the trendline, potentially creating a false breakout.
Levels to watch: $160, $220
Keep your long term vision,
Philip (BasicTrading)
Trade active
Trading update on Tesla (TSLA):
Click chart above to see the detailed analysis👆🏻
Tesla to quite close to breaking the previous monthly low towards the downside and if this happens, it is quite likely that we will see a confirmed fakeout. Next support is then the previous horizontal structure and we could see another breakout attempt forming there.
Levels to watch: $210, $160, $260
Keep your long term vision,
Philip (BasicTrading)
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