TESLA INC.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 209.50 |
| Take Profit | 180.20 |
| Stop Loss | 215.00 |
| Key Levels | 180.00, 196.00, 209.50, 215.00, 224.20, 225.00, 248.00, 260.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 224.20 |
| Take Profit | 248.00 |
| Stop Loss | 220.00 |
| Key Levels | 180.00, 196.00, 209.50, 215.00, 224.20, 225.00, 248.00, 260.00 |
Shares of Tesla Inc., the world’s leading manufacturer of electric cars, are trading at 215.00.
On the daily chart, the price is correcting within the global outgoing channel 260.00–180.00, heading towards the support line.
On the four-hour chart, the decline has entered the trend phase and will break the previous wave low of 196.00 soon, and the asset will reach the support line of the global channel 180.00. A return to growth in the quotes is not expected but will become possible if it consolidates above 225.00.
Technical indicators maintain a stable sell signal: fast EMA on the Alligator indicator are below the signal line, and the AO histogram forms downward bars in the sell zone.
Trading tips
Short positions may be opened after the price declines and consolidates below 209.50 with the target at 180.20. Stop loss – 215.00. Implementation period: 7 days or more.
Long positions may be opened after the price rises and consolidates above 224.20 with the target at 248.00. Stop loss – 220.00.
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