Tesla | Chart Spells Doom!
Updated
Right now the Tesla (TSLA) stock is standing right on support, hanging by a thread.
The bias is bearish.
The trend is bearish.
We have 3 consecutive negative/red/bearish weekly close.
A bounce can happen before lower prices but this is low probability at the moment.
Likely to go below 150.
The 180/165 support range is the critical support now.
The green arrow shows the "bounce" version.
The red arrow shows what the chart is saying at this point in time; charts always change.
The real crash is likely yet to happen based on the chart technicals.
CHANGE
To see change here a close above the down-trendline would be needed.
Not even a close above EMA10 gives out much "hope" long-term.
This is not trading advice nor any type of advice.
I share what I see on the chart.
I am reading the chart for you.
Make sure to always to your own research before trading as you are responsible for your own actions.
Your continued support is always appreciated.
I hope you enjoy the chart.
Namaste.
The bias is bearish.
The trend is bearish.
We have 3 consecutive negative/red/bearish weekly close.
A bounce can happen before lower prices but this is low probability at the moment.
Likely to go below 150.
The 180/165 support range is the critical support now.
The green arrow shows the "bounce" version.
The red arrow shows what the chart is saying at this point in time; charts always change.
The real crash is likely yet to happen based on the chart technicals.
CHANGE
To see change here a close above the down-trendline would be needed.
Not even a close above EMA10 gives out much "hope" long-term.
This is not trading advice nor any type of advice.
I share what I see on the chart.
I am reading the chart for you.
Make sure to always to your own research before trading as you are responsible for your own actions.
Your continued support is always appreciated.
I hope you enjoy the chart.
Namaste.
Note
First target at 150 hit.125 next.
Note
Second target at 125 hit.~100 next.
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