TSLA close analysis 8/10/2023

11 באוג׳ 2023

TSLA has by far been one of my favorite stocks to trade in 2023. Scalping is still rewarding but from a swing perspective it's giving us nothing right now.

The gap from 6/9 remains strong support. Bears have barely been able to get price into there.

Check out the oscillator consolidating into a tight pattern with an upwards movement, while the price action is trending slowly down. Some interesting and "creepy" divergence going on there. I'm not a huge fan of divergences -- to me by the time they play out the move is usually over. But it's a little weird.

Are we coiling up to finally get off this support gap and make a pop higher? Maybe. Could go lower too. I see no trades at the moment. Just waiting until the next opportunity presents itself to swing a position here. I remain optimistically bullish.