TSLA Swing High| Range Low| .618 Fibonacci| Bearish Retest

2020年9月23日

Evening Traders,

Today’s analysis – TSLA- swing high back into range, price action is currently bearish under range high.

Points to consider
- Bearish impulse break
- Range low support
- Range high resistance (bearish retest)
- Stochastics sell cross
- .618 Fibonacci

TSLA’s bearish impulse back into range allows us to have a bearish bias on the market.

The Range low support has been respected, leading into a sizeable bounce. Price action respecting range high will establish a bearish retest.

The stochastics has a valid sell cross coming to fruition, this is indicative of momentum shifting.

Immediate target is the .618 Fibonacci, holding this area will be crucial for the bulls.

Overall, in my opinion, TSLA is a valid short with defined risk; price action is to be used upon discretion/ management of trade.

Hope this analysis helps

Thank you for following my work!

And remember,

“Hope is bogus emotion that only costs you money.” – Jim Cramer