TSLA, Ability To Complete Inverse H-S-Formation, Objections!

22 mars 2022Hello,

Welcome to this analysis about TSLA and the daily timeframe perspectives. In recent times I have detected pivotal developments in the TSLA stock real price-action. As when looking at my chart we can watch there that the stock dipped after Elon Musk needed to sell a part od his stock supply to pay taxes, in this case, the price-action moved into the 700 level where the stock has important supports in the structure and this is why we have seen this initial bounce from this level on. Now the stock moved on to test further resistances in the range and greatly managed to breakout above the 65-EMA which is an important sign as this EMA previously determined the downtrend. Furthermore, as I discovered the stock is now setting up a potential inverse head-shoulder-formation with the left shoulder and the head already completed. Now as the stock has critical supports in the range which are shown in my chart within the 870 level, these levels are highly necessary to hold for the stock to complete the inverse head-shoulder-formation appropriately. When this happens and the stock finally manages to break out above the neckline it will complete the whole formation and will activate the target-zone as seen in my chart. Once the stock has moved on with the suggested conclusions it will be decisive on how the stock moves further from there and if there comes a pullback or the stock manages to build up with a next formation, it will be an interesting development ahead.

In this manner, thank you for watching the analysis, all the best!
"There are many roads to prosperity, but one must be taken."

Information provided is only educational and should not be used to take action in the markets.