TSLA: Technical Analysis | Charts – April 23, 2020
It is possible that TSLA may have a sustainable high in place.
Summary: There is reasonable risk here of more downwards movement. A new low below 652 would indicate a bounce may be over. However, expect more upwards movement for the short term while price remains above 652.
It looks like TSLA may have had a blow off top. Strong bearish divergence between price and RSI and a bearish Evening Doji Star reversal pattern suggest a high may possibly be in place for the longer term.
For the short term, volume suggests upwards movement may continue.
A target calculated from the last measuring gap is 76.39, which has been passed. Assume upwards movement may continue while the last gap remains open at 652.00.
Published @ 06:56 p.m. EST.
Careful risk management protects your trading account(s).
Follow my two Golden Rules:
1. Always trade with stops.
2. Risk only 1-5% of equity on any one trade.
New updates to this analysis are in bold.