Has TSLA started its down trend.?
Overview:-
On a daily basis stock is slightly above 8EMA.
On a weekly basis the price is below the 10 Week SMA which suggest downtrend until price closes above $256 on weekly basis. You can also notice that price is at top of downtrend channel. This channel acted as resistance ever since Nov 2021.
On Monthly view(not posted here) if you look at Previous two candles we notice a spindle(July) followed by hanging man (August) and September started below the August close. So IMO Monthly suggest a downtrend until price closes above $256.
Summary:- From a risk/reward basis, it looks like the stock favors shorts as long as price stays below $256. If the downtrend continues price might find support at $185-193.
Catatan
TSLA has not closed decisively above 256 longs and shorts need to tighten stop and manage risk.
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.