TSLA is following all the price action indicators very well; Target 190!
- Have been performing well since the bounce off the neckline support of 163
- Clearly in a near term buy controlled buy channel but in a larger controlled sell channel
- Confluence remains 190
- 19 Apr gap down bear flag has since retraced above 177 which is Fib 78.6 (tends to mean likely a full retrace to 190
My Watch/Plays
- Will MA5 cross above MA50 (blue)?
- Will price action stay in the buy channel?
- If it comes back down to re-test 163 and fails below? ==> This is a bearish one and 146 bound
- Look to add more long puts should price action test and stay above MA5 and MA20
- It is all about 190! Break above and we will have some squeeze from 195 to 209
Good luck, all!
Comments
How does TSLA's recent production issues and CEO controversies impact the stock's performance?
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Great ariticle, would you like to share it?