My 05/22/22 post "Tesla Inc. Has Reached Important Support" came just after Tesla Inc. (TSLA) raeched 633.00. On 05/24/22 TSLA made a marginall new low at 620.57.
My 06/03/22 post noted that TSLA could be a possible short at 860.00
TSLA appears to be still on course for a possible short - the broader resistance zone is 840.00 to 880.00. Bulls - eye target is near a .382 retracement of the decline from its all-time high.
Daily RSI is not in the over bought zone and has recently had another bullish crossover of its moving average line.
Watch the short-term trendlines. A break above the declining trendline could be an additional bullish signal.
A break below the rising trendline could open the door for a drop back to the 05/24/22 bottom at 620.57.
Mark
My 06/03/22 post noted that TSLA could be a possible short at 860.00
TSLA appears to be still on course for a possible short - the broader resistance zone is 840.00 to 880.00. Bulls - eye target is near a .382 retracement of the decline from its all-time high.
Daily RSI is not in the over bought zone and has recently had another bullish crossover of its moving average line.
Watch the short-term trendlines. A break above the declining trendline could be an additional bullish signal.
A break below the rising trendline could open the door for a drop back to the 05/24/22 bottom at 620.57.
Mark