TSLA - Macro / Micro View in Charts
TSLA Analysis - 1 of 2 View (macro view)
Update 18 Feb 2024
- Fib 61.8 is at 177 which was the low of the most recent support coming in
- We are still in a downtrend channel and starting to build strength from the 177 Fib bounce
- The top side of the channel is "alas" back at 255 again (previous sharing of key resistance levels)
TSLA - Macro View - 18 Feb 2024
TSLA Analysis - 2 of 2 View (micro view)
Update 18 Feb 2024
- Previously shared the formation of the "island" with the gap down from earnings (181 to 193)
- Whether island reversal happens or not depends on strength of the counter
- Have been in the island range for awhile and last week saw the initial break out of the range to fill the gap
- Reached 50% gap fill and also VWAP at 200! ==> as shared many times, 50% gap fill is usually the first target!
Possible moves
- Like previously shared on support, they now become resistances
- 209 becomes the next key level to get above (full gap fill)
- And then 219 will come into play (also VWAP)
- Weakness ==> then 209 and 219 will be the rejection to bring it back down to 160/145 range (again, previously shared on where weakness will go to)
- Strength ==> Break above of 232 (again, that magical level!)
Good luck, all!
TSLA - Micro View - 18 Feb 2024
Modify on 2024-02-18 11:49
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