Parallel Channels
Updated
Updating prior idea to make up for it's quality.
Two parallel channels.
(i) The red one got rejected (or did it?). The red channel was cooperating up until after hours. Thus, in regular trading hours, this channel is still valid. Open tomorrow could invalidate it if the price remains well above today's close.
(ii) The white channel was confirmed in after hours.
Breaking these channels is crucial in confirming a reversal for Tesla. The first target would be the blue dotted line at or around 250 dollars per share.
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Until these channels are broken, a drop to the 200 level remains possible. We will know soon.
Two parallel channels.
(i) The red one got rejected (or did it?). The red channel was cooperating up until after hours. Thus, in regular trading hours, this channel is still valid. Open tomorrow could invalidate it if the price remains well above today's close.
(ii) The white channel was confirmed in after hours.
Breaking these channels is crucial in confirming a reversal for Tesla. The first target would be the blue dotted line at or around 250 dollars per share.
---------
Until these channels are broken, a drop to the 200 level remains possible. We will know soon.
Note
Red Channel can be disregarded now as today's open invalidated it.Note
Options traders playing with fire today! The white channel coincides with $240 right at Friday's close. Be careful.
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