TSLA: Bullish Continuation Structure.
• Recently, TSLA failed in breaking the resistance area around $262, which I’ve alerted on my previous TSLA analysis (link below this post);
• This triggered a short-term pullback, and TSLA approached its support levels on the daily chart, namely the 21 ema and the $237 area;
• This week, it did a good reaction above this support level, indicating that it wants to resume the bull trend;
• What could reverse this bullish sentiment? If TSLA loses the $237. As long as it stays above it, the bullish bias will persist.
• On the weekly chart, we see that TSLA is struggling to break the $262 resistance;
• Although a pullback to the $217 is plausible, and wouldn’t ruin the long-term bullish bias, if TSLA breaks the $262 area again it might just continue its rally to the $300;
• Let’s follow it closely.
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• This triggered a short-term pullback, and TSLA approached its support levels on the daily chart, namely the 21 ema and the $237 area;
• This week, it did a good reaction above this support level, indicating that it wants to resume the bull trend;
• What could reverse this bullish sentiment? If TSLA loses the $237. As long as it stays above it, the bullish bias will persist.
• On the weekly chart, we see that TSLA is struggling to break the $262 resistance;
• Although a pullback to the $217 is plausible, and wouldn’t ruin the long-term bullish bias, if TSLA breaks the $262 area again it might just continue its rally to the $300;
• Let’s follow it closely.
Follow me to keep in touch with my analyses!
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