As stock and crypto are in a bear market, Tesla is no exception to the rule. In fact, it seems like the fall is excellerating faster, which is indicated by Fetch Trends. The strength of the trend is visualized by the change in colors, giving this chart this gradient. With the SPX hitting resistance, and Tesla breaking support, 100 USD is the next obvious target...
US markets ( S&P 500 Index +0.3%) ended Wednesday in the green after a choppy session, perhaps exhausting the extreme sell-off sentiment from the previous day. The unexpected result from the US inflation report released on Tuesday had prompted speculation that stocks could start to head back to their June lows in reaction to a more aggressive Federal Reserve ....
Reasons For Trade- 1: Risk Reward 1:3 2.4 Hr chart shows buyers strength 3.daily chart has taken support on trend line created from march 4. price created good base on 1 hr chart for upward movement 5. Price has good support on 20+50+200 days Moving average around 700 6.Fundamentally Strong company so buy on dips recommended for positional
Tesla has been trading below 200 MA for good period of time & has formed Bearish Pennant price action pattern which indicates a Bearish continuation trend signal. Using Fibonacci we also plotted that, Tesla is not able to break its 50% retracement level which infact is exactly at the price level where 200MA is standing. It’s a double & strong reversal sign. Also...
we can see fall around 400 level in tesla