Hello traders and investors! Let’s see how TSLA is doing today!
We are finally above the $ 1k, and TSLA isn’t showing any signs of exhaustion here. We broke all the resistances we have been mentioning in the past weeks, and it has been more than one month that we don’t retest the 21 ema.
The volume was very high this week (one of the highest of the year), way above the average volume, and this reinforces the idea of a true breakout. Since Tuesday, TSLA is going up, despite the weird candlesticks in the daily chart, that might indicate some weakness, but if we look the 1h chart, we see that TSLA is just doing a sideways correction:
In the 1h chart, we don't see a new high since Tuesday, but we don’t see TSLA doing lower lows either. This means that it is just correcting, waiting for the 21 ema to catch up with the price to form a new support level.
I see the area around $ 1k as a key point, and not by coincidence, it was a previous support in the 1h chart too (black line). Only if we lose this price level we could see a decent pullback, maybe to fill the gap at $ 910 (red line). However, we don’t see any bearish sign around, and there’s nothing telling us that TSLA will do a pullback.
In the 1h chart, the 21 ema is also pointing up, and it’s been a week that we don’t retest this support. Hardly TSLA would do a pullback without telling us first in the 1h chart, so, let’s wait for more info.
If you liked this analysis, remember to follow me to keep in touch with my daily updates on stocks and indices. Also, support this idea if it helped you!
Have a good day.
We are finally above the $ 1k, and TSLA isn’t showing any signs of exhaustion here. We broke all the resistances we have been mentioning in the past weeks, and it has been more than one month that we don’t retest the 21 ema.
The volume was very high this week (one of the highest of the year), way above the average volume, and this reinforces the idea of a true breakout. Since Tuesday, TSLA is going up, despite the weird candlesticks in the daily chart, that might indicate some weakness, but if we look the 1h chart, we see that TSLA is just doing a sideways correction:
In the 1h chart, we don't see a new high since Tuesday, but we don’t see TSLA doing lower lows either. This means that it is just correcting, waiting for the 21 ema to catch up with the price to form a new support level.
I see the area around $ 1k as a key point, and not by coincidence, it was a previous support in the 1h chart too (black line). Only if we lose this price level we could see a decent pullback, maybe to fill the gap at $ 910 (red line). However, we don’t see any bearish sign around, and there’s nothing telling us that TSLA will do a pullback.
In the 1h chart, the 21 ema is also pointing up, and it’s been a week that we don’t retest this support. Hardly TSLA would do a pullback without telling us first in the 1h chart, so, let’s wait for more info.
If you liked this analysis, remember to follow me to keep in touch with my daily updates on stocks and indices. Also, support this idea if it helped you!
Have a good day.
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💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.
