Long

Tesla: bounce expected at $200 Support?

is currently approaching an important support zone, an area where the price has previously shown bullish reactions. This level aligns closely with the psychological $200 mark, which tends to carry added weight in the market .
The recent momentum suggests that buyers could step in and drive the price higher. A bullish confirmation, such as a strong rejection pattern, bullish engulfing candles, or long lower wicks, would increase the probability of a bounce from this level. If I'm right and buyers regain control, the price could move toward the 260.00 level.

However, a breakout below this support would invalidate the bullish outlook, potentially leading to more downside.

This is not financial advice but rather how I approach support/resistance zones. Remember, always wait for confirmation, like a rejection candle or volume spike before jumping in.

TrendDiva

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TrendDiva

Also on:

Related publications

TESLA Market Outlook: Strong Reversal Expected at $200 Support

by TrendDiva