TSLA: Breaking Important Resistances.

• TSLA broke its main resistance at $187, and it hit its next resistance at $200. As we discussed in our previous studies, the $187 was our key point, and seeing TSLA breaking it is a powerful sign (the link to my previous analysis is below this post, as usual);
• The $187 (red line) was the neckline of an H&S chart pattern, and it was very close to the 21 ema, making this a dual-resistance area. By breaking this area, TSLA is giving us strong signs that it wants to reverse the bearish sentiment;
• It seems TSLA is losing momentum this morning, but since it just hit another resistance at $200, that’s expected. In theory, the $187 area (previous dual-resistance) is supposed to work as a support if TSLA corrects from here;
• What’s more, the $187 area seen in the daily chart is close to a very important key point in the 1h chart:


• In the 1h chart, we see that TSLA broke its resistance at $186 (red line), and immediately jumped to the $200;
• The price is way above the 21 ema, which is pointing up, and now it is doing higher highs/lows, meaning, the bias is bullish (short-term);
• Only if TSLA loses the $187 - $186 area we would see it rejecting the bullish thesis. A pullback is plausible, but it must not drop below this point;
• If TSLA breaks the $200 in the next few days we might see it retesting its next resistance area, around $211;
• The bias is bullish for now, but let’s pay attention to how it’ll react near the $200 resistance. Probably the volatility will increase due to the FED, but these are the key points we should watch from here. I’ll keep you updated.

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