TESLA BEARISH WITH HIGH PROBABILITY !!Hello ladies and gentlemen, according to my chart analysis of TESLA, there is a high probability of a decline towards the 150 $ level in the next days !
Teslatrading
Tesla best zoom ... NASDAQ:TSLA
The best zooms for trading ...
In the chart we have two important zooms With a trend line where very strong resistance occurs in the zoom ... First zoom to buy: If the price is between 880 and 930, we can enter for the price of 1110 with sl 840. Second zoom for sale: from 1156 to 1115 we can think of selling and have targets up to 1007. sl for us is 1215. Try not to risk more than 5% on your total capital.
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Re-setting the stop gain! Next week looks promising!Ok, traders! Tesla might do a double top here! If next week it breaks the 635, it might keep pushing up, but I’m not sure if this will happen.
We have a small RSI divergence, but the 20ma is holding the price.
Still, it is important to be careful here. You guys know that I booked about 90% of my trade, which I bought at 596, and I’m still holding some shares. Today I decided to move my trailing stop-gain to the 622. If Tesla breaks this point, it’ll trigger the double top, and it might drop to the next support.
If Tesla triggers the double top the next target is the 596, and this would be a short opportunity! We’ll have our answer next week. I’ll keep you guys updated.
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See you soon,
Melissa.
Tesla in October 2020 I've highlighted or marked the double-top pattern that IS NOT YET CONFIRMED.
This week we got the news of Battery Day and the hype has died down.
Both rejections on the Weekly chart show more Bear Volume than Bull.
MACD hasn't flipped bearish since March.
RSI is still over-heated.
The U.S election is 40 days away and there has always been a market dump around this time.
These are all prime factors to consider for what Tesla's price action will look like in the next month or so.
Being short or cash is the best move at the moment with all of this uncertainty.
