TSLA: The beginning of a Dead Cat Bounce? 🙀
• TSLA did a powerful reaction last Friday, and it seems it wants to continue the bounce, but it is stabilizing under the $120;
• TSLA broke our short-term resistances, which we studies in details on my previous analysis (link below this post);
• If it loses momentum, TSLA will most likely seek the $110 again, at least, as the trend is still bearish, and the sentiment is not the best;
• Considering it did a Hammer candlestick pattern last week, it wouldn’t be surprising if we see TSLA retesting the 21 EMA in the daily chart, or even one of the retracements;
• However, any pullback to a resistance level must be considered just an opportunity to sell, as the trend is bearish and there’s no bullish reversal structure – just a bottom sign;
• If this is a Dead Cat Bounce or not, only time will tell, but for now, let’s keep the $110 support in mind, as if TSLA loses it, it might frustrate any possible bounce;
• In order for TSLA to reverse the bearish sentiment, we must see a clear bullish reversal structure. So far, there’s none;
• The 21 EMA in the daily chart, along with the retracements, are all shirt/mid-term resistances, and won’t be easy for TSLA to break them;
• I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
• TSLA broke our short-term resistances, which we studies in details on my previous analysis (link below this post);
• If it loses momentum, TSLA will most likely seek the $110 again, at least, as the trend is still bearish, and the sentiment is not the best;
• Considering it did a Hammer candlestick pattern last week, it wouldn’t be surprising if we see TSLA retesting the 21 EMA in the daily chart, or even one of the retracements;
• However, any pullback to a resistance level must be considered just an opportunity to sell, as the trend is bearish and there’s no bullish reversal structure – just a bottom sign;
• If this is a Dead Cat Bounce or not, only time will tell, but for now, let’s keep the $110 support in mind, as if TSLA loses it, it might frustrate any possible bounce;
• In order for TSLA to reverse the bearish sentiment, we must see a clear bullish reversal structure. So far, there’s none;
• The 21 EMA in the daily chart, along with the retracements, are all shirt/mid-term resistances, and won’t be easy for TSLA to break them;
• I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
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