Tesla -> Bullish Continuation Pattern

24 במאי 2023

Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .

On the weekly timeframe you can see that Tesla just recently retested and rejected a quite nice support zone at the psychological $100 area which was acting as support.
You can also see that over the past couple of weeks, Tesla has been forming a quite obvious weekly bullish flag, which is normally a continuation pattern, so I am now just waiting for a break above the resistance trendline and then I do expect another bullish rally.

On the daily timeframe you can see that Tesla yesterday retested and rejected a quite obvious previous structure level at the $190 area which was acting as resistance - I am now just waiting for a break and retest of this level before I then do expect also a daily rally towards the upside.

Thank you for watching and I will see you tomorrow!

You can also check out my previous analysis of this asset: