Wed. Nov 13th, 2024

Back at March 20th, I wrote a post entitled “Has Tesla Motors Topped Out?”. Check it out here. Well time has passed. The monthly candle close below the breakdown line of 180 never occurred. Now a few months later Tesla (TSLA:NASDAQ) is testing it’s breakout line at the 275 resistance line. Check out the monthly candle chart.

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Here is the weekly candle chart. Price action is testing the breakout line.

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And the final zoom in on the 1 year daily candle chart. Watch out for the noise above the breakout line. Check this post on how to reduce “noise”.

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This is the perfect example why I wait for a monthly candle close above OR below a break line to confirm the next move. NOBODY knows the future, especially not me.  I will wait for this months candle close to confirm this bullish reversal of fortunes! Patience required.