$TSLA entering into a consolidation range
Mar11: If the downtrend comes to a halt then TSLA will enter into a consolidation range, Too early to tell, but if the 190-210 range is broken to the upside a rally may be ignited and the 240-250 level will be a critical level for the dreadful Head and Shoulders pattern..
From the chart it can be seen that the average volume after the initial strong move to the upside never was the same again. Everybody put all their chips on the table very early on this stock. September was its all time highs, and since then it entered in a downtrend with a couple of fake heads and short covering, but not enough to reverse the trend. Now there is a positive momentum divergence and a possible trading inside the range.
So far I am neutral here and I won't open a position until the indicators show positive signs, and if the prediction is correct, whenever the price heads to the 240-250 level we'll hear a lot about TSLA.
From the chart it can be seen that the average volume after the initial strong move to the upside never was the same again. Everybody put all their chips on the table very early on this stock. September was its all time highs, and since then it entered in a downtrend with a couple of fake heads and short covering, but not enough to reverse the trend. Now there is a positive momentum divergence and a possible trading inside the range.
So far I am neutral here and I won't open a position until the indicators show positive signs, and if the prediction is correct, whenever the price heads to the 240-250 level we'll hear a lot about TSLA.
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