TSLA Bullish Piercing candle at support
TSLA support and resistant price structures formed at every 50$ range
Finally it hit 150 support zone !
This week open gap down but ended strong rebounce forming Bullish Piercing reversal candle with VOLUME at 150 Support and Trendline Support.
Weekly Chart - Long Term
Generally still downtrend (Red MA Rainbow) and Bearish (Candle below Moving Average)
FiFT still -ve indicating Bear still dominant
MCDX 69% with selling volume vs Buying volume with just 9%
Daily Chart
Generally still downtrend (Red MA Rainbow) and Bearish (Candle below Moving Average)
However, there's sign of reversal spotted.
Bullish Divergence - Price lower low but FiFT Higher low, MCDX Selling volume capped at 50%
Morning Star Reversal candle with FiFT turning +ve on daily chart.
MCDX Buying become active with 36% vs 31% selling volume.
Summary
Generally still downtrend and bearish. No buy signal yet BUT there's sign of reversal (Bullish Piecing and Morning Star) happen at right place (150 and Trendline Support)
Risk buy at support for short trade or
Monitor for price break and close above 180-185 zone for further buy opportunity.
TSLA should be able to move higher if MCDX Institution volume manage to break above 10% on DAILY and WEEKLY chart.
Finally it hit 150 support zone !
This week open gap down but ended strong rebounce forming Bullish Piercing reversal candle with VOLUME at 150 Support and Trendline Support.
Weekly Chart - Long Term
Generally still downtrend (Red MA Rainbow) and Bearish (Candle below Moving Average)
FiFT still -ve indicating Bear still dominant
MCDX 69% with selling volume vs Buying volume with just 9%
Daily Chart
Generally still downtrend (Red MA Rainbow) and Bearish (Candle below Moving Average)
However, there's sign of reversal spotted.
Bullish Divergence - Price lower low but FiFT Higher low, MCDX Selling volume capped at 50%
Morning Star Reversal candle with FiFT turning +ve on daily chart.
MCDX Buying become active with 36% vs 31% selling volume.
Summary
Generally still downtrend and bearish. No buy signal yet BUT there's sign of reversal (Bullish Piecing and Morning Star) happen at right place (150 and Trendline Support)
Risk buy at support for short trade or
Monitor for price break and close above 180-185 zone for further buy opportunity.
TSLA should be able to move higher if MCDX Institution volume manage to break above 10% on DAILY and WEEKLY chart.
Contact me to learn Turtle Trading System, MCDX and other indicators (t.me/SgxFx)
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