TSLA still looks good but take note of the island reversal pattern; On target for 295!
Daily Chart
- 4 day balance with support at 274; MA5 yellow is supporting at 274 too
- Upper bollinger band is horizontal providing resistance
- Gap remains between 262 and 274; With island reversal pattern formation; there is a likelihood it may get filled
- Mean MA20 green is coming up to 262 (bottom of gap)
- Lower bollinger band is coming up to 240
- 4 day balance with support at 274; MA5 yellow is supporting at 274 too
- Upper bollinger band is horizontal providing resistance
- Gap remains between 262 and 274; With island reversal pattern formation; there is a likelihood it may get filled
- Mean MA20 green is coming up to 262 (bottom of gap)
- Lower bollinger band is coming up to 240
What this all means to me?
- Upside above 282 does need some catalyst ==> Could come via earnings run-up to 19 July?
- There is a strong likelihood to fill the gap ==> Meaning possible come down to 267 or 262
- Pretty good support at 262 (MA20)
- Pretty good support at 240 (Bollinger band)
- Upside above 282 does need some catalyst ==> Could come via earnings run-up to 19 July?
- There is a strong likelihood to fill the gap ==> Meaning possible come down to 267 or 262
- Pretty good support at 262 (MA20)
- Pretty good support at 240 (Bollinger band)
Remain bullish for now. Note that TSLA releases earnings on 19 July 2023, and possibly the "traditional" pre-earnings run-up.
Good luck, all!
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Silverbat : Dip more, buy more and hold shares firmly!
AsphenOP Silverbat: Good one