Hello, can you check tsla weekly? The MACD is curling down, how significant would that indicator mean? Is there any bottom sign for TSLA so far? Thank you

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Aug 20, 2023·edited Aug 20, 2023Author


TSLA weekly chart https://www.tradingview.com/x/Oloeyw0A/

shows a trendline from the 101.81 recent low and the higher low in MAY, to now showing support at 204-207 area. This also lines up with the 50sma on the weekly at 205.64.

I have 2 lines at 194 and 230.

For further bear case 194 must be taken out to then retest 175 and 160.

For bull case to resume 230 must be taken out to then fire the IHS and retest 258 and 295

For now we may see temporary relief here to try 230 again where we either reject and setup a range, or breakthrough and target levels posted above.

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