TSLA Hidden Bullish Divergence Observed!

20 lip

Please see my chart annotations. I like what I'm seeing with this moderate divergence, price is holding well relative to the lower trendline on RSI. There isn't as much selling pressure. If Divergence can maintain this relativity, then price has a higher probability of an upside move rather than downside. Price could double bottom in the low $230's and still hold a divergent stance. Plus! it's a Cup and Handle filled with Inverse Head and Shoulders, nice setup.

Earnings on Tuesday, Robotaxi unveiling on August 8th.

Thank you for your time, happy trading!
OnePath

20 lip

Uwaga

I know week old news to some, but I just read that the Robotaxi event is postponed until Oct, not on August 8th.

20 lip

Uwaga

Keep in mind that price could range within the ascending triangle, but once that green line is broken volume will flood in imo.

21 lip

Uwaga

Caution! Biden stepping down will cause some extreme volatility this week, market never likes uncertainty. Could be considered a positive to the market, but gives reason to shake the tree, liquidate stops either way, balance the chart and pick a direction. Don't panic, check your emotions and follow the technicals. Market makers will push the limits both ways. Have a plan that makes sense and stick to it.

21 lip

Uwaga

Futures are looking positive.

22 lip

Uwaga

Picking up on some Hidden Continuation Divergence on the 1 hr. Good sign. Hidden Bearish is also present on the 1hr, but I'm ok with because the lack of volume is low conviction, for now that is.

23 lip

Uwaga

23 lip

Uwaga

Also note the higher low and long wick, RSI overtaking 50% would be a good spot for an alert.
Breaking under $233 with Bearish Divergence is a deal breaker for me, but for now it's not over.

23 lip

Uwaga

*$231

23 lip

Uwaga

I'm out

23 lip

Uwaga

I will re-enter when price breaks back above $271. That's when the market will decide, $271 Green Line Breakout on increase volume and strength FTW.

Thanks everyone!