TSLA i see a bug or I’m wrong? In 4H price passed the $415 and hit $410. But in daily the price jumped from $417.64 and never hited $415. It didn’t stopped me. What was the low??
TSLA we have that shooting star on the daily. bears would expect continuation to the downside. However if we have a gap up on Monday this could be a potential island reversal. and a shooting star would be a reversal signal (just like we had the hammer on 17th but with follow through to the downside). TSLA closed back within the steep descending bearish channel on the Daily timeframe. However to remain in the channel TSLA needs to open around 400 on Monday. This would be unlikely imo. Currently it is outside the bearish channel on the extended hours, but if it opens on Monday outside the bearish channel on the regular hours chart, it could help this bullish thesis.
TSLA daily chart, this is a perfect structure for a reversal. Got the gap down, with a matching candle, RSI is going to kiss, only problem I have is the volume increased significantly during the last 1 hour. I wouldn’t be surprise price should test 410 again and reject . This next rejection should drive the price up. Premarket price will be up and on the open it will open near the previous close price driving the price down to retest 410 during. Market hours to only reject. That say will be a higher high on the daily.
TSLA we definitely had a rejection at the 4H and the chart isn't looking as an immediate uptrend will continue to unfold. However we might get a surprise gap up on Monday. X-mas rally is still on the table as other stocks like NVDA are waiting for the breakout. VIX also cooled down today. If it continues to do that Monday morning, I don't really see TSLA going down.