Tesla / TSLA has made a Double Bottom on Friday and today is making a run for the 1day MA50.
This is an important level as since January 9th (3 months) it has been the Resistance and hasn't been broken.
But can this Double Bottom for Tesla be a 'META bottom', like the one the social media giant had in November 2022?
Both fractals formed Lower Highs under a Falling Resistance before bottoming, so if Tesla crosses over the 1day MA50, we see no reason why it shouldn't finally sustain a rally that will break above the Falling Resistance.
META's first target before the first pull back was the 0.786 Fibonacci.
Buy and target 260.00 (slightly under the 0.786 Fibonacci).
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This is an important level as since January 9th (3 months) it has been the Resistance and hasn't been broken.
But can this Double Bottom for Tesla be a 'META bottom', like the one the social media giant had in November 2022?
Both fractals formed Lower Highs under a Falling Resistance before bottoming, so if Tesla crosses over the 1day MA50, we see no reason why it shouldn't finally sustain a rally that will break above the Falling Resistance.
META's first target before the first pull back was the 0.786 Fibonacci.
Buy and target 260.00 (slightly under the 0.786 Fibonacci).
Follow us, like the idea and leave a comment below!!
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thecryptagon.com covers news & insights on global markets (crypto, forex, stocks, commodities)
Institutional services offered:
💰 Daily consulting
💰 Account management
💰 Mentorship
Contact: t.me/thecryptagon | info@thecryptagon.com
Institutional services offered:
💰 Daily consulting
💰 Account management
💰 Mentorship
Contact: t.me/thecryptagon | info@thecryptagon.com
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.