Will Market Weakness hold back $TSLA?
Ticker: 
TSLA
Date: 2/23/2020
TSLA is holding on extremely well amid market weakness on Thursday and Friday. Potential cup and handle pattern that could play out in these upcoming days.
We closed with an inside bar on Friday, with the HOD of 913.03 and LOD of 880.45. Those price will be crucial in making my entries for long or short, depending on how we break.
If we break bull, we need to break $944.78 to start this cup and handle pattern. If we break bear, I would just wait.
I would also watch the correlation between Tesla and the market closely. This CoronaVirus (COVID-19) is all over the headlines and is driving the market down. If that is the case in these upcoming days or even weeks, I would think that the overall market has underestimated the effect of the virus and the impact it has on businesses.
TSLADate: 2/23/2020
TSLA is holding on extremely well amid market weakness on Thursday and Friday. Potential cup and handle pattern that could play out in these upcoming days.We closed with an inside bar on Friday, with the HOD of 913.03 and LOD of 880.45. Those price will be crucial in making my entries for long or short, depending on how we break.
If we break bull, we need to break $944.78 to start this cup and handle pattern. If we break bear, I would just wait.
I would also watch the correlation between Tesla and the market closely. This CoronaVirus (COVID-19) is all over the headlines and is driving the market down. If that is the case in these upcoming days or even weeks, I would think that the overall market has underestimated the effect of the virus and the impact it has on businesses.
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.