Tesla – The Art of Chart Reading Online https://artofchartreading.com A complete guide for day traders and swing traders of forex, futures, stock and cryptocurrency markets Wed, 22 May 2024 22:21:17 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.1 https://artofchartreading.com/wp-content/uploads/2018/06/cropped-aocr_background-32x32.jpg Tesla – The Art of Chart Reading Online https://artofchartreading.com 32 32 What We Know About Tesla as of Aug 18, 2018 https://artofchartreading.com/2018/08/18/what-we-know-about-tesla-as-of-aug-18-2018/ Sat, 18 Aug 2018 16:30:24 +0000 https://artofchartreading.com/?p=167 Continue reading "What We Know About Tesla as of Aug 18, 2018"

]]> Here is a daily chart of Tesla.

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1. Channel (blue lines) in the making since the late 2016 rally. Confirmed by mid 2017 test of channel top and subsequent consolidation.

2. Violent down trendline (red line, left) break gave us the target (red down arrow).

3. 2nd down trendline (red line, right) break gave us test of all time high and rejected. Potential trendline breakout failure.

4. Channel support (orange zone) down at 260 to 280.

5. Interestingly, Tesla is still in daily uptrend.

Struggle around the 2nd down trendline likely until clean setup of a bottom formed on weekly, or, breakdown below support zone that points to a flush below 200 likely.

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