Tesla, Inc. (TSLA) Also Bearish (Major Correction Ahead!)
Updated
I could write a thesis explaining why the TSLA stock is set to go down. In this thesis, I could make up all types of explanations supporting my bias, mentioning varied economic factors, global finance, historical market dynamics, politics, military conflict in the middle east and government reports. On the other hand, I can also keep it extremely simple and just show you this chart.
Tesla, Inc. (TSLA) produced a high in 11-July 2024. On the 30-September, we have a lower high and today a full red candle showed up.
As the lower high for September came in, trading volume has been the lower it has been in years and this is bearish.
As this dynamic is playing out on this chart, other major stocks are also moving lower and the DXY has gone bullish. When the DXY goes up, tech stocks go down.
➢ TSLA is about to enter a correction similar to the one produced between July and August 2024, the only difference is that this one will be several times stronger, we are looking at a lower low.
Thank you for reading.
Namaste.
Tesla, Inc. (TSLA) produced a high in 11-July 2024. On the 30-September, we have a lower high and today a full red candle showed up.
As the lower high for September came in, trading volume has been the lower it has been in years and this is bearish.
As this dynamic is playing out on this chart, other major stocks are also moving lower and the DXY has gone bullish. When the DXY goes up, tech stocks go down.
➢ TSLA is about to enter a correction similar to the one produced between July and August 2024, the only difference is that this one will be several times stronger, we are looking at a lower low.
Thank you for reading.
Namaste.
Trade active
The bearish signals and bearish potential are now confirmed with a drop of more than 7% and a move below EMA13 and EMA21 on the daily timeframe.
Tesla (TSLA) is set to move lower, with this down-move likely lasting between 3-6 weeks.
Thanks a lot for your continued support.
Namaste.
Trade active
There is a huge falling window today on the daily chart. This can be translated as bearish momentum. Comment
The TSLA stock has declined by ~17% (16.9) since sharing this trade idea.
This is a major correction already.
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