Aug. 9 at 8:33 PM
$TSLA bounced this week, but I’m still not convinced the downside is finished.
Last week’s candle closed completely below the lower band, and this week we’re seeing a bounce back from that extreme.
That could easily continue through August, so I’m not trying to fight the rebound here.
That said, the bigger chart still looks vulnerable to me.
I’m watching for another lower low later this year, with the first major yearly support around
$276.
If TSLA gets there, I’ll be much more interested in how price reacts than simply assuming it has to break lower.
For now, I’m letting the chart do the talking and watching the key levels.
I regularly share market observations, trade ideas, and the levels I’m watching. Follow if you want to stay updated.
