TSLA: BULL TRAP? Pay Attention to the Most Important Support!
• TSLA crashed yesterday, and it seems it wants to resume the bear trend, making the previous rally a bull trap;
• Today, TSLA is trying to lose the 21 ema in the 1h chart (pre market), and if that’s the case, we can expect more drop ahead;
• What’s more, if it loses the 21 ema in the 1h chart, it’ll lose yesterday’s low at the same time, triggering a Dark Cloud Cover pattern in the daily chart;
• The area at $123 is the next technical support level in the 1h chart: 1) previous top level; 2) 38.2% Fibonacci’s Retracement; 3) Gap level;
• Therefore, in my view, the $123 area is the most important support level. If TSLA loses it, the bearish momentum will persist, and it could easily seek the $100 again;
• In order to frustrate this bearish thesis, it must stay above the $123, and do a very good (bullish) reaction;
• I’ll keep you updated on this everyday, as usual.
Remember to follow me to keep in touch with my daily analyses!
• Today, TSLA is trying to lose the 21 ema in the 1h chart (pre market), and if that’s the case, we can expect more drop ahead;
• What’s more, if it loses the 21 ema in the 1h chart, it’ll lose yesterday’s low at the same time, triggering a Dark Cloud Cover pattern in the daily chart;
• The area at $123 is the next technical support level in the 1h chart: 1) previous top level; 2) 38.2% Fibonacci’s Retracement; 3) Gap level;
• Therefore, in my view, the $123 area is the most important support level. If TSLA loses it, the bearish momentum will persist, and it could easily seek the $100 again;
• In order to frustrate this bearish thesis, it must stay above the $123, and do a very good (bullish) reaction;
• I’ll keep you updated on this everyday, as usual.
Remember to follow me to keep in touch with my daily analyses!
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