SpaceTradex

SpaceTradex

### Analysis Considering Bands: 1. **Lower Bands**: - The lower bands (below the 0 level) are crucial for identifying support levels. - TSLA has previously touched the lower bands around the 0.25 and 0.382 levels during its downtrend, showing these levels as strong supports. 2. **Upper Bands**: - The upper bands (above the 0 level) will serve as...

SpaceTradex

Here is some interesting observation from Tesla chart and Fib channel overlay. ### Observations: 1. **Fibonacci Channel**: - The Fibonacci channel is drawn from a high point in 2021 to a low point in early 2023. - The lines are drawn at key Fibonacci levels (0, 0.25, 0.382, 0.5, 0.618, 0.75, 1). 2. **Price Action**: - TSLA has been in a downtrend from...

SpaceTradex

If you are considering a trade, a common strategy would be to wait for a breakout from the consolidation pattern (the symmetrical triangle). A breakout to the upside could be seen as a continuation of the bullish trend, and a trader might enter a long position. Conversely, if the price breaks down below the triangle, it could signal a reversal or a correction, and...