TSLA - A revisit to the 50DMA?
$Tesla Motors(TSLA)$ Last week in the selloff, the price found support in the confluence zone where the 50DMA matches the volume shelf. As I anticipated most of the bearish move was in.
Then, yesterday the price found resistance at the 20DMA that matches the higher volume shelf! Hence the new pullback.
Do I expect a revisit to the 50DMA? No, but a potential gap fill at $309 is possible before a bounce.
As presented yesterday in the premium content (access in b!o), this is a bull market and a healthy consolidation may happen (maybe not), but if the $SPY and $QQQ are set for a bullish year, Tesla may overperform and we have a buying opportunity in front of us.
Not investment advice, and like if interested in more Tesla updates.
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