Analysis of TSLA stockOleg Alexandrov
I did not pay attention to TSLA #stock price for a long time. Chart formed a great story here.
Blue line is 200 round number line.
1) As price broke under the blue line, market did feel some sort of Panic. The Panic increased by breaking down the support line of big range channel. … But look the volumes/price range. Narrow range amid too much volume. What does it mean? Professional buyers absorb cheap good stock.
2) Genuine Demand Pushed Price Higher.
3) Here is the next decline and approaching 200 line. But look the volumes this is a lack of Supply Pressure. Market experienced a Lack of Sellers (#NS)
4) Fake down move (Trap) before advance.
5) Demand up-move (probably, on good news about Earnings).
So, shorting this stock is risky. I believe, price has the potential to reach top orange line of big multi-months channel.
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