Tesla Running on Auto-Correction?

We have a potential Spike top formation developing here on the daily chart for Tesla. This pattern has a high probability of playing out now that the chart has closed with a bearish shooting star candle stick on the daily as well. If we get a gap down at the open and a red candle close below Mondays bullish candle, then the likely hood of the spiked top formation will gain merit. We will be looking for no less than a pull back to fill the gap from the nine hundred price level in the near term. If we get a broader based sell off in the market indices then Tesla could see stops getting triggered and lead to forced selling.

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Tesla Running on Auto-Correction?

bearish

We have a potential Spike top formation developing here on the daily chart for Tesla. This pattern has a high probability of playing out now that the chart has closed with a bearish shooting star candle stick on the daily as well. If we get a gap down at the open and a red candle close below Mondays bullish candle, then the likely hood of the spiked top formation will gain merit. We will be looking for no less than a pull back to fill the gap from the nine hundred price level in the near term. If we get a broader based sell off in the market indices then Tesla could see stops getting triggered and lead to forced selling.

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read-time
< 1 min

916.59

Target Price

8/ 10

Confidence

1-2 Weeks

Timeframe
Share
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Moving Average
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RSI
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Volume
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Beta
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Bollinger Band
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TSLA Channel

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