I have attached my idea from couple days ago this is an update.
Yesterday had a very bearish candle to end the day. Watch for reversion to mean at 200MA keeping in mind that the moving average is just the a moving target. Watch for gap fill around $650. I gave 4 other examples of reversion to 200 MA. The RSI is at all time high on weekly. I don't see any clear time line for down side to 200 MA. Also the most of the supports will be physiological numbers 900, 800, 700 etc (example) there is also fib levels that could be considered. There is not really many other candles to draw support with till under $400.
The original idea I shared is still viable I just wanted to update what the charts were showing. In my original idea I said that it would get rejected under $1000 physiological level. Yesterday Tesla hit $968.99 and dropped.
Yesterday had a very bearish candle to end the day. Watch for reversion to mean at 200MA keeping in mind that the moving average is just the a moving target. Watch for gap fill around $650. I gave 4 other examples of reversion to 200 MA. The RSI is at all time high on weekly. I don't see any clear time line for down side to 200 MA. Also the most of the supports will be physiological numbers 900, 800, 700 etc (example) there is also fib levels that could be considered. There is not really many other candles to draw support with till under $400.
The original idea I shared is still viable I just wanted to update what the charts were showing. In my original idea I said that it would get rejected under $1000 physiological level. Yesterday Tesla hit $968.99 and dropped.
