Tesla bulls and bears will battle on battery day.
Tesla, where anything goes and volatility is crazy.
Battery day will be an interesting battle ground.
A key bounce of the 50 day moving average has kept hope alive for tesla bulls.
The massive sell off could spark a snowball sell off into the a.m., on the other hand the sell off landed at a key support level.
This keeps it in a bullish overall trend, but it is at a critical level where a move to a certain direction could set the tone for the rest of the month possibly into November.
Bears have had some fun recently, but theres no reason to believe investors give up on tesla after hearing some big news. The end of day sell off could be perfect for the bull case that this runs, because the selloff due to Elons tweet could have baked the underwhelming news into the price at close, as it rebounded slightly after hours.
Battery day will be a test on its own.
1 metric used in this chart is the RSI stretch. If you look, you can see patterns and dates noted where the Rsi runs " hot" for multiple days.
Battery day will be an interesting battle ground.
A key bounce of the 50 day moving average has kept hope alive for tesla bulls.
The massive sell off could spark a snowball sell off into the a.m., on the other hand the sell off landed at a key support level.
This keeps it in a bullish overall trend, but it is at a critical level where a move to a certain direction could set the tone for the rest of the month possibly into November.
Bears have had some fun recently, but theres no reason to believe investors give up on tesla after hearing some big news. The end of day sell off could be perfect for the bull case that this runs, because the selloff due to Elons tweet could have baked the underwhelming news into the price at close, as it rebounded slightly after hours.
Battery day will be a test on its own.
1 metric used in this chart is the RSI stretch. If you look, you can see patterns and dates noted where the Rsi runs " hot" for multiple days.
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.