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Tesla retraces: Profit-taking or opportunity to buy more?
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Resistance met at 404

$Tesla (TSLA.US)$ as predicted, once we broke above $400 minutes into market open, we would easily see an aggressive runup to the mid 400s due to the small volume profile.
While I expected it to run up even more to test the ATH of $414, I saw a rejection being formed at $404 and that led me to close all my long positions.
When it fell below $400, I knew that subsequent failed attempts to break above $400 would mean a strong rejection to the next level of $385 as traders baked in a temporary top being formed.
I'm expecting Tesla to end the day in the $380 - $390 range and possibly trade sideways leading up to more information on the economic data this week.
If the $380 rising channel support level is not held, we can expect it to retest $370.
NFA 🥰🥰🥰
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