TESLA DAILY TREND PROGRESSION ANALYSIS

Leg 1:
Support Established: Leg 1, identified a critical support level at $186.
Leg 2:
Testing and Holding Support: In Leg 2, the market tested the support level established in Leg 1. Importantly, the support at $186 held firm, allowing the trend to continue and form the basis for Leg 3.
Leg 3:
Support Failure: Moving into Leg 3, the trend attempted to establish a new higher support level at $262. However, this support level was not maintained, indicating a weakening in the upward momentum.
Consequence of Failure: The failure to hold support at $262 led to the initiation of Leg 4, marking a significant shift in the trend.
Leg 4:
Price Drop and Targeting Lower Support: In Leg 4, the price of TSLA dropped significantly, first testing the previous support level at $223.
Break of Support: The price broke through the $223 support level, indicating a further weakening in the trend.
Targeting Leg 3 Low Support: The subsequent target for the price became the low support level identified in Leg 3, specifically $205.