Bearish divergence. Will TSLA pullback?

Hi Traders,

• TSLA is showing multiple bearish divergences on the 4HR chart.
  
• TSLA has rejected $200 area 5 times.
  
• Wave 3 of 5 extended to the 3.61 area; I expect a healthy bullish pullback to the $150 area, but TSLA has strong support at the $170-$175 area.
  
• TSLA could extend to the 4.61 area ($213), ignoring the bearish divergence
  
  

Happy Trading!


TSLA Wave 3 Extensions shown below:

Kommentera:

TSLA found $213 resistance and is pulling back. Support areas are shaded blue below. A healthy bullish pullback is any bounce from the 38%, 50%, or 61% retracement levels