Classical action of price and volume contradicting one another.Price increase and volume not confirming the increase. Longs to be very careful here. And an hanging man today will set up perfectly for a reversal. Please wait for confirmation signal
Tesla Motors is already oversold in February. Swing trade setup buy at current levels 650-725, stop loss as per your risk profile for targets 777/829. Less risky traders can buy March 05 700 call option.
1.060 level has been an important level in the past. After breakout on 28 Jan 21, this is the first time the price is testing this level as new support. If it holds then 1.49, 1.76 and 2.08 will be exposed in the coming days.
Thank you for your time. Any suggestions for improvement of the analysis are welcome.
Daily logarythmic chart: We're in a large WXY structure and in process to complete Y with another (WXY). (W) hit perfectly our most likely target at the .618 fib extension and we completed (X) as a corrective move. To finish the structure our target for Y is the 100% extension of W at $146 USD.
Om Namah Shivay
Tenx has already come down to a point where it meets the b making,
if it is going to go up, should start going up from here.
Otherwise we are expecting it to touch 1.51. We are going to watch
the levels to confirm the movement and do the analysis likewise.
Om Namah Shivay
