TSLA: Complete Multiple Time Frame Analysis (H, D and W charts).

2023年5月8日

• After breaking its main resistance lines in the 1h chart, TSLA is in a bull trend, doing higher highs/lows, while trading above the 21 ema;
• Since the short-term momentum is bullish, it should hit its next technical target at $177.65 – in theory;
• The previous resistance at $169.60 (red line) seems to be acting as a support level today, which corroborates the Principle of Polarity in technical analysis, which states that previous support levels will work as future resistance levels and vice-versa;
• Only if TSLA loses this red line, we might see this bullish momentum frustrated, in the short-term.



• In the daily chart we see that TSLA just broke its 21 ema, indicating that it wants to reverse the mid-term bear trend;
• What’s more, the 21 ema is very close to the red line seen in the 1h chart, making the area around $170 a dual-support level in different time-frames;
• In addition, the $177.65, the next technical resistance line seen in the 1h chart is an open gap seen in the daily chart, from the previous earnings;
• As long as TSLA keeps trading above its dual-support level, no pullback or reversal will materialize, and the bull trend will persist.



• Since TSLA is bouncing after it hit a critical support line in the weekly chart at $164 (red line), in theory this bounce should persist, even considering the possibility of a short-term pullback;
• Only if it loses the $164 we would see the recent bullish signals frustrated;
• In this case, we could easily close the gap at $146, as seen in the daily chart.

I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.

2023年5月9日

Note

• TSLA lost the red line at $169.60, indicating that it is losing momentum in the short-term;
• Now it seems TSLA is struggling at the 21 ema on the 1h chart, and it would require a decent bottom signal in this area to turn it bullish again – so far, no bottom signal confirmed.



• The daily chart suggests more correction, as TSLA triggered a top signal and it is losing the 21 ema again;
• Yesterday’s candlestick was a Hanging Man pattern, which is a bullish continuation pattern most of the time (BULKOWSKI, Thomas. Encyclopedia of Candlestick Patterns, p. 365), however, we had a downward breakout this time;
• All of this suggests that the bearish sentiment is prevailing. TSLA must react as soon as possible in order to reverse this sentiment and make a clear bottom signal around its support levels – again, so far, no clear bottom signal.

I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.