Tesla TSLA Approaching Key Support
This is a very simple analysis as it isn't a complicated setup.
Tesla is approaching the 200 day moving average (blue). In the past, this moving average has held up the stock every time although it has fallen through it slightly a few times.
The location of the 200 day moving average also lines up with the bottom trend line of a descending channel. I would suggest measuring the % amounts Tesla has dropped below the 200 day moving average and set your stops accordingly.
Tesla is approaching the 200 day moving average (blue). In the past, this moving average has held up the stock every time although it has fallen through it slightly a few times.
The location of the 200 day moving average also lines up with the bottom trend line of a descending channel. I would suggest measuring the % amounts Tesla has dropped below the 200 day moving average and set your stops accordingly.
Note
No way to know if this will hold, but here is the retest of the 200 day moving average which is happening at the moment of this comment.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.