TSLA - Bearish validation after MA5 crossed below MA20 and then MA50! Where is it headed?
- Since MA5 crossed below MA20, that was a clear bearish indicator
- And since then, price action has remained below yellow MA5 ==> bearish
- Support 240 to 232 broken downwards
- Lower Bollinger line is sloping downwards with MA5 close to it ==> Bearish
- No clear MA5 basing at all yet ==> bearish
- Near term, any reversal needs to overcome 232
- And since then, price action has remained below yellow MA5 ==> bearish
- Support 240 to 232 broken downwards
- Lower Bollinger line is sloping downwards with MA5 close to it ==> Bearish
- No clear MA5 basing at all yet ==> bearish
- Near term, any reversal needs to overcome 232
My Watch/Plays
- Sold puts strike 190
- When price action moves to 209, sell strikes 160
- 209 and 190 looks to be good support levels (possible basing when price action reaches those levels)
- Sold puts strike 190
- When price action moves to 209, sell strikes 160
- 209 and 190 looks to be good support levels (possible basing when price action reaches those levels)
Good luck, all
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