TSLA touched last Friday both the 1D MA200 (orange trend-line) and the 1W MA50 (red trend-line). During the previous phase of the first 6 months of 2021, the price made a bottom when it hit this 1D MA200 - 1W M50 zone. In fact, as this chart shows, Tesla's price action since November is very similar to the first 6 months of 2021. The 1D RSI and MACD are identical, both phases made fake-outs above the 1D MA50 (blue trend-line), only to get rejected to a Lower Low.
In the previous phase, the price entered into a long-term buy when the 1D MA50 broke for the second time. As long as the 1D MA200/ 1W MA50 Support Zone holds, the 1D MA50 break-out shouldn't take long to happen. With every Higher High being a 0.5 Fibonacci extension level higher since September 2020, the next target to fill is the 3.5 Fib extension. We are setting a Q3 target on Tesla at $1400.
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In the previous phase, the price entered into a long-term buy when the 1D MA50 broke for the second time. As long as the 1D MA200/ 1W MA50 Support Zone holds, the 1D MA50 break-out shouldn't take long to happen. With every Higher High being a 0.5 Fibonacci extension level higher since September 2020, the next target to fill is the 3.5 Fib extension. We are setting a Q3 target on Tesla at $1400.
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.