Scrolling some charts and came across TSLA. i had to shift to a weekly time frame and squeeze the candles to accommodate a potential reversal zone or buy zone inside the weekly support. The potential for first target upside is around 35% ($200 -$202). The entry point starts at $148.20 and a weekly close below $145.53 will break that support and invalidate the level so the signal to exit the long position
Note
So today price hit the buying zone and immediately was rejected. This is a weekly level so we still can see price testing again the level. As long as we see weekly holding price then the trade is valid. What will invalidate is a weekly close below the mentioned values
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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.