Little DipperBuying Support 'Supply/Demand' has dried-up.
Stay below the moving averages.
Even the Dividend did Not help.
Did Not participate in the Rally with the Rest of the mkt.
Another Dismal earnings upcoming.
Earningsdisappointment
TSLA continues its downtrend toward Apirl earnings SHORTOn a TSLA chart, TSLA has been trending cown since last May. On the anchored VWAP lines,
it topped out crossing above the second upper VWAP about the first week of January '23 then
crossing under the same line on January 20, 23 Between August and October price tested and
consolidated about the first upper VWAP line. It then fell to the mean VWAP line and returned
in a retracement to the first upper VWAP line by December. paradoxically, price rose
after an earnings miss in October. From December through early February price fell through the
mean VWAP and received support with the first lower VWAP band. The faster EMA in black
crossed under the slower green EMA in early January. TSLA is last significant uptrend or
correction was a month before that. At present a continued trend direction of down
is predicted by the optimized EMA20/65 lines now diverging from a compression with the EMA
20 in black under the green EMA 65 line. A predictive modeling indicator by Lux-Algo
forecasts the persistent downtrend. TLSA could pick up support at the level of the pivot during
the April '23 earnings report or lower still at the second lower VWAP line at about 141.
Fundamentals can trump technicals but things out there are not looking great for TSLA
ROKU- Bearish Divergence gives guidance LONGROKU sold off after okay not great earnings- obviously a large number of market participants
took their money off the table and moved it elsewhere. There was a typical or excessive price
run-up in the pre-earnings period. This chart set in a 15-minute time frame as well as 15
minute time frame on the RSI laid onto the main chart shows bullish divergence which
otherwise might be subtle. It is the key to the trade entry. It is saying get on the train before
it leaves the station. Chasing the train is a futile endeavor fraught with failure and
frustration. ( Yes, the hot tip is boldfaced for emphasis) Price is sideways at this time. The
relative volume indicator shows a huge 4X surge in volumes at the consolidated bottom verifying
it as such. This is Wychoff's theory in action for sure.
I am now part of that volume. I am an avid bottom buyer like many others. I take great
pains to analyse for the bottom, unlike some others who run on gut or sentiment.
I hope you find this analysis helpful. If you do, please give me a thumbs up. Once you have,
feel free to ask as to the specifics of my trading plan now implimented.
