$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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