TSLA - A Bollinger Squeeze is Imminent
$Tesla Motors(TSLA)$ The 50-day moving average (50DMA) is currently providing strong support for the price, particularly at the S/R level shared in the latest weekly compass.
For a northbound direction and an upward trend, the price needs to close the week above $179.
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Analysis earlier this week:
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Price moving between 50 and 100 daily moving averages, similar to November 2023.
Back then price action filled a gap down, today it filled a recent gap up.
50DMA is close to another S/R level, that confluence better holds and create a bounce above 100 DMA and other levels shared in the Weekly Compass.
Also similar to last time, there is a bullish 20 & 50DMA bullish crossover, adding bullishness to the chart.
Price action has to demonstrate a change in the trend.
https://x.com/SmartReversals/status/1796309314031820891
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- Meroy·05-31Do you think this analysis holds water?LikeReport
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