Will TESLA be bearish? Head shoulders pattern true?
Updated
Since recent volumes are decreasing while the price is increasing, there could be an inversion of the trend. Moreover, I thought that this head shoulders pattern could be verified in the short term.
Considering the target, it can be around 300, that is the price considered with an extension of the same extent of the head from the neckline. Honestly, I would close the position earlier, like at 1.4 or 1.2 Fibonacci levels.
However, there are elections in the US, and therefore, anything can happen.
What do you think?
Considering the target, it can be around 300, that is the price considered with an extension of the same extent of the head from the neckline. Honestly, I would close the position earlier, like at 1.4 or 1.2 Fibonacci levels.
However, there are elections in the US, and therefore, anything can happen.
What do you think?
Note
There is an error in the right shoulder. It has to reach the lower line, which is the neckline. Therefore, the new extension has to start from there and the price could reach a value lower than 300.
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