TSLA: Did a Top Signal.
• TSLA is doing a top sign, and it is showing some weakness;
• Since TSLA is losing the $200, and it did a top sign, the next technical stop is the $182;
• The last 3 candlesticks form what appears to be an Evening Doji Star, which according to Bulkowski’s studies, works as a bearish reversal 71% of the time;
• Therefore, a correction wouldn’t be surprising, especially when we realize how far TSLA is from its 21 ema right now. The mid-term bias is still bullish, despite the possible correction. In this scenario, any bullish reaction above a clear support (the $182, or even the 21 ema) would be just an opportunity to buy, as the bias would still be bullish, and the Risk/Reward Ratio would be very good;
• I’ll keep you updated every day on this.
Remember to follow me to keep in touch with my daily analyses!
• Since TSLA is losing the $200, and it did a top sign, the next technical stop is the $182;
• The last 3 candlesticks form what appears to be an Evening Doji Star, which according to Bulkowski’s studies, works as a bearish reversal 71% of the time;
• Therefore, a correction wouldn’t be surprising, especially when we realize how far TSLA is from its 21 ema right now. The mid-term bias is still bullish, despite the possible correction. In this scenario, any bullish reaction above a clear support (the $182, or even the 21 ema) would be just an opportunity to buy, as the bias would still be bullish, and the Risk/Reward Ratio would be very good;
• I’ll keep you updated every day on this.
Remember to follow me to keep in touch with my daily analyses!
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