- First chart with the rising support line gives hope for Tesla bulls for a reversal.
- But the Second chart is not that exciting as price is staying below 100 SMA for now. Tesla bulls need to do more to close back above this crucial moving average to confirm strength.
- The Month chart also looks Weak with the two long upper shadows of June and September month candles. If price manage to close above 100 SMA a short term up move is likely, After this the Month weakness may resume..
- QQQ CHART ANALYSIS
October 3, 2017
- QQQ Daily is getting strong support near 100 Day SMA.
- There is negative divergence with PRICE and RSI In daily time frame. But bears need to close below 100 SMA for a possible trend change to happen in this time frame.
- Immediate weakness if day closes below 144.93 levels. On the up side price nearing resistance level again146.59