$TSLA is showing a double top on the weekly chart, with a current retest of the key support turned resistance.
Lower time-frame charts show the the 2nd top of the double top as a head and shoulders.
Price broke out of the current downtrend resistance to form inside bars on the daily and weekly charts. I expect this to consolidate between $937 and $880.50 for a at least a few more days.
Trade Idea: Leaning bearish, but Long over $937; Short under $880.50. Must confirm the move. Also viable to play bull/bear at successful rejection at either levels.
Options Flow over the past 2 weeks has been fairly close to 50/50 bullish/bearish. No help there.
Lower time-frame charts show the the 2nd top of the double top as a head and shoulders.
Price broke out of the current downtrend resistance to form inside bars on the daily and weekly charts. I expect this to consolidate between $937 and $880.50 for a at least a few more days.
Trade Idea: Leaning bearish, but Long over $937; Short under $880.50. Must confirm the move. Also viable to play bull/bear at successful rejection at either levels.
Options Flow over the past 2 weeks has been fairly close to 50/50 bullish/bearish. No help there.