Tesla – Weekly Analysis

$TSLA closed on November 10 with primarily bearish candles.

The weekly candle possibly completed a consolidation and signaled readiness to move lower. The recently made 50/200 WMA “death” cross (arrow) would support the hypothesis.

The daily formation was a Thrusting Line which has better chances to resolve downward. Note a strong resistance at the 200 DMA.

The 15-day candles that closed last week formed a strong Falling 3 Methods combo with very high bearish odds. In other words, a move lower would be almost guaranteed.

Now let’s discuss the perspective targets on a few different time frames.

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In our reports we evaluate candles and candle structures, discuss recent technical events and their long term impact, and project the long and mid term targets using the Elliott and Fibonacci theories.

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