TSLA - $890 before June end?
Marked out some key support lines I'm watching and a possibility of a H&S pattern if this plays out. In my opinion, TSLA won't break down from the H&S pattern if it does appear later in the year. But, it is a risk to be aware of.
I will re-visit the chart and update towards June / July based on how this plays out.
Good luck!
- Provided the broader economy does not pull the market down, I believe TSLA will cross $1000 by the end of 2021. But there will be buying opportunities throughout that journey
- If we re-test the $890 mark by June, I expect some downward pressure on TSLA towards July before earnings, based on cycle analysis.
- If you are bullish on TSLA it's a great time to start averaging in if you don't have it in your portfolio. Once TSLA breaks the current $715 resistance, this point could act as a strong support (thus, hopefully invalidating a H&S). The wedge is filling with higher lows, don't sleep on it.
I will re-visit the chart and update towards June / July based on how this plays out.
Good luck!
Related publications
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.