Where do we go?
- RSI around 60 - Weak sell
- MACD line is moving around it's signal line, just kissed below: Weak sell
- Trend showing upward support until March 25. Past 6 days has been horisontal trade: Neutral
- Volume - Seems like there's been a peak in volume one day (bull push) followed by a few days of low volume where the sellers takes control (bear push)
- 1st resistance: $550
- 2nd resistance: $645
- 1st support line at $500
- 2nd support line at $410
The market is in Limbo. Still anticipating the consequences of Covid19 and the numbers keeps rising both in Europe and U.S with no sign of a peak. The question is; how much dread is already build into the stock / market at the moment? Short term I believe there's too much insecurity in the market. It will take a lot of good news / neutral news to keep moving the market up but few bad news to trigger a new selloff.
Short term: Bearish $500
Intermediate term: $645
Primary term: $785
I recently sold my Tesla stocks and would like to see it come down so I can re-invest at a decent level so there's might be some BIAS in my analysis.
Please comment and let me know your thoughts.
- RSI around 60 - Weak sell
- MACD line is moving around it's signal line, just kissed below: Weak sell
- Trend showing upward support until March 25. Past 6 days has been horisontal trade: Neutral
- Volume - Seems like there's been a peak in volume one day (bull push) followed by a few days of low volume where the sellers takes control (bear push)
- 1st resistance: $550
- 2nd resistance: $645
- 1st support line at $500
- 2nd support line at $410
The market is in Limbo. Still anticipating the consequences of Covid19 and the numbers keeps rising both in Europe and U.S with no sign of a peak. The question is; how much dread is already build into the stock / market at the moment? Short term I believe there's too much insecurity in the market. It will take a lot of good news / neutral news to keep moving the market up but few bad news to trigger a new selloff.
Short term: Bearish $500
Intermediate term: $645
Primary term: $785
I recently sold my Tesla stocks and would like to see it come down so I can re-invest at a decent level so there's might be some BIAS in my analysis.
Please comment and let me know your thoughts.