TSLA: Resistance at the 20DMA
$Tesla Motors(TSLA)$ : Resistance at the 20DMA which has confluence with the lower edge of the volume shelf.
When a line is tested many times it can be breached, and this was the fourth day in a row with the price attempting to jump above it.
The candle shows indecision and the oscillator is curling down, so the bullish thesis has to be proven with a breakout above the 20DMA.
Rapid Moves between Volume Shelves
The Stochastic curling down suggests a reversal is in play, however, the price action managed to bounce on Friday.
Futures are green despite of the massive bearishness during the weekend, that's why charts matter more than news, let's see how the day ends. In the case of Tesla a recovery of the 20DMA would be bullish.
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