April 3, 2018

TESLA Bulls holding on to crucial support levels | Weekly 200 SMA

  • Weakness of the stock has led price to crucial support levels.
  • Bulls trying to hold on to 200 SMA in Weekly time frame. This line must be held for a possible reversal to happen.
  • Bigger weakness if the current levels around 244 is not held.

ES Charts After closing bell

  • Price has violated 200 SMA again.
  • But there is still hope for a reversal from recent swing lows n 4 hour time frame. This can turn into a Double bottom kind of pattern in 4 hour chart. Having said that Price staying below 200 SMA is immense risk for bulls.