Technical Analysis

TradeCompass for Tesla Stock

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TradeCompass for Tesla Stock

Current Price: $417.00 (at the time of this analysis)Bearish Threshold: $415.28Bullish Threshold: $421.75

Directional Bias: The tendency leans bearish. While Tesla hovers near a key inflection point, it requires confirmation to determine sustained movement.

Bearish Outlook:

Below $415.28, Tesla could face increased selling pressure. Here are the bearish profit targets:

  1. $413.15 – Just above the Value Area High (VAH) of yesterday.
  2. $410.19 – Above the Value Area Low (VAL) of yesterday.
  3. $406.486 – above the 10 Jan VAH.
  4. $400.55 – A deeper bearish extension.

Bullish Outlook:

Above $421.75, Tesla exhibits potential for an upside breakout. Here are the bullish profit targets:

  1. $423.69 – Close to the Point of Control (POC) from three days ago; a quick initial target.
  2. $428.02 – Reflecting further bullish momentum.
  3. $433.82 – Third Upper Standard Deviation of VWAP from three days ago; a strong stretch target.

Trade Notes:

  • Tesla’s setup suggests a high likelihood of directionality near the key levels of $415.28 and $421.75.
  • Use these levels as your “compass” for identifying shifts in sentiment and potential entries.

Trade Tesla at your own risk. Thank you.

This article was written by Itai Levitan at www.forexlive.com. Source