AlanSantana

Is Tesla Tired? Yes Sir!

AlanSantana Diupdate   
NASDAQ:TSLA   Tesla
Our friend @TradeStation asked if Tesla (TSLA) is tired...

Looking at the chart above, we can easily say YES!

We have multiple bearish signals after the 1-Sept. All-Time High... Let's look at those:

  • We have a lower high.
    The peak 14-Oct. is lower than 1-Sept.

  • Decreasing daily trading volume.
    This is also a bearish signal, especially when you consider all the easy money being printed worldwide.

  • Prices closed below EMA10 and EMA21.
    346 is the first target/support (more targets on the chart).

  • The RSI moved below 50.
    Remember that the RSI is still good above 40 but moving below 50 can still be considered a bearish signal as it is starting to trend lower.

  • Rising trendline broken.
    Our rising trendline based on candle closure is now broken.

What these signals are telling us is that "YES", Tesla is tired.

Namaste.
Komentar:
Continues aiming lower.

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