Tesla has recently formed a complex H&Ss in which I found very interesting to share. First of all, neckline has slightly broken down yet with little volume. The tops has somehow increased volume but not very noticeable. Not only that, but the period between tops have some contraction in volume which is very relevant to the studies of H&Ss.
These segments of the pattern may suggest that the stock is very bearish however, if you look at the chart you will notice that the pattern is an extension of much much large congestion zone (see highlighted volume)!
Tesla would either go bearish or go back up to fill up the gap of a top island.
These segments of the pattern may suggest that the stock is very bearish however, if you look at the chart you will notice that the pattern is an extension of much much large congestion zone (see highlighted volume)!
Tesla would either go bearish or go back up to fill up the gap of a top island.
Trading ditutup: target tercapai:
Hit the wave C and reversed.
Komentar:
Interesting update after the stock has reached the head and shoulders target accurately. Tesla reversed and nearly hit the neckline again and went back bearish; however, it is now in a very critical spot where classically it could go on in a bearish trend, or cross up 199 to reach the wave target in the level of 400's.
