We Ended Friday under resistance (purple line) and relatively low volume. Going into earnings which good earnings could be crucial for holding up a bull market. Based on the structure of this daily pattern, if earnings does not go well, we could see a trip to support (not immediately)
Support (RED TREND LINE) for $TSLA would be in the $645-$660 Range if we do see a drop. If we bounce off said support bullishly then I will take a starter position with an anticipated break of downtrend (purple line)
Resistance (GREEN TREND LINE) is around $765 and if earnings goes well and investors react positive we could see an initial push to $788 and in trend move up to $835 as a second target. Price targets are high and the bull are waiting for this earnings to step up. This weeks earnings will more than likely dictate where we trend for the rest of April and May. I will link my previous video breakdowns below, if you haven't seen those, I give an in depth look on the setup going into earnings. Good luck traders and if you like this content make sure to leave a follow and a like!! I will be posting a video breakdown on Monday as well. Stay tuned!
Support (RED TREND LINE) for $TSLA would be in the $645-$660 Range if we do see a drop. If we bounce off said support bullishly then I will take a starter position with an anticipated break of downtrend (purple line)
Resistance (GREEN TREND LINE) is around $765 and if earnings goes well and investors react positive we could see an initial push to $788 and in trend move up to $835 as a second target. Price targets are high and the bull are waiting for this earnings to step up. This weeks earnings will more than likely dictate where we trend for the rest of April and May. I will link my previous video breakdowns below, if you haven't seen those, I give an in depth look on the setup going into earnings. Good luck traders and if you like this content make sure to leave a follow and a like!! I will be posting a video breakdown on Monday as well. Stay tuned!
