TSLA: Another BULLSEYE! What to expect next?
• Since our last analysis, TSLA hit our target around $179 with an astonishing precision, and now it seems it wants to bounce again (the link to my previous analysis is below this post, as usual);
• In the 1h chart, it seems TSLA is in a bull trend, as it is doing higher highs/lows, and it triggered an IH&S chart pattern as well. However, I noticed recently that it might be trapped in an Ascending Channel, which could become a Bearish Flag;
• In order to avoid a bearish scenario, TSLA must react as soon as possible, and break the $198.55. As seen in the daily chart, this key point was a previous support, which is working as a resistance now;
• In addition, if it triggers the bearish flag by losing the support at the purple trend line, it will frustrate any bullish thesis;
• Therefore, the key points to watch are the purple trend lines and the $198 area. The next movement will probably be dictated by the breakout of one of these two lines.
Remember to follow me to keep in touch with my analyses!
• In the 1h chart, it seems TSLA is in a bull trend, as it is doing higher highs/lows, and it triggered an IH&S chart pattern as well. However, I noticed recently that it might be trapped in an Ascending Channel, which could become a Bearish Flag;
• In order to avoid a bearish scenario, TSLA must react as soon as possible, and break the $198.55. As seen in the daily chart, this key point was a previous support, which is working as a resistance now;
• In addition, if it triggers the bearish flag by losing the support at the purple trend line, it will frustrate any bullish thesis;
• Therefore, the key points to watch are the purple trend lines and the $198 area. The next movement will probably be dictated by the breakout of one of these two lines.
Remember to follow me to keep in touch with my analyses!
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