Pure Technical Analysis :
TESLA may drop down to 360. Shockingly it may sound, but looking for TA's perpective and using the gann weekly swing chart and retracement, Tesla recovered from the recent drop 3 weeks ago and seems to be hitting the 50% level at 720 price level (resistance).
This 360 level is also the top that TSLA hit a resistance level in July 2020. 360 in Gann's term, is ONE FULL CIRCLE DEGREE, and 720 is 2 times 360.
and the highest achieved was 900, which is multiples of 90 degrees (90 times 100) - 90 degrees is a quarter of a circle, (one season is 3 months).
If this analysis is true, TSLA should drop for another equal range down and this should hit 360 in the next 4-5 weeks.
When TSLA recovers, watch it hit 1080 as the next higher price target. (360 x 3)
Buckle up !!!
TESLA may drop down to 360. Shockingly it may sound, but looking for TA's perpective and using the gann weekly swing chart and retracement, Tesla recovered from the recent drop 3 weeks ago and seems to be hitting the 50% level at 720 price level (resistance).
This 360 level is also the top that TSLA hit a resistance level in July 2020. 360 in Gann's term, is ONE FULL CIRCLE DEGREE, and 720 is 2 times 360.
and the highest achieved was 900, which is multiples of 90 degrees (90 times 100) - 90 degrees is a quarter of a circle, (one season is 3 months).
If this analysis is true, TSLA should drop for another equal range down and this should hit 360 in the next 4-5 weeks.
When TSLA recovers, watch it hit 1080 as the next higher price target. (360 x 3)
Buckle up !!!
Note
Tsla drops below 540 then it's sayonara ..
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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.