Major trend is still Bullish ? What are you scared of ? Make money from this blood, below is my view for $Tesla Motors(TSLA)$ stock :
Despite the downturn of Tesla stocks this few days, this would be a very good opportunity for you swing trader, lets dive through!
1W timeframe (above chart) shows that currently the correction is wise to cover the fair value gap (grey box) that appears on the Weekly timeframe, after that price will refuel and continue its upside movement.
Below is a closer look to 1D timeframe :
As we know, $Tesla Motors(TSLA)$ down -30% from the top and it will continue to dip through its support at $310 soon, I expect price recover after an inducement through $308 and back up with a target of $370 a 19% gain for swing.
Why is it aiming for $310 - $308? because it is the last swing low before we see the new top, stop losses is placed over there and there might be a lot of liquidity to be sweep over there. As long as we didn’t see a daily closing candle below $308, than this view of mine is still valid.
Conclusion :
Demand area : $310 - $308
Target : 360 - 370 ( Resistance)
Focused on the big timeframe to look at the overall trend. If 308 broken down then we could see lower price target.
Not Financial Advice.
Comments