Tesla - this technical signal suggests that price is likely heading down short-term
$Tesla(TSLA.US$is still resisted below a previous historical low at 195.
Bearish hidden divergence suggests a short-term weakness. If price trades firmly below 180, then next target is 148 to 160.
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Definition: Hidden divergence is a technical analysis concept that indicates a potential trend continuation, as opposed to a trend reversal signaled by regular divergence.
Bullish Hidden Divergence: Occurs during an uptrend when the price forms a higher low (HL), but the oscillator shows a lower low (LL). This suggests that the uptrend is likely to continue.
Bearish Hidden Divergence: Takes place in a downtrend when the price forms a lower high (LH), but the oscillator shows a higher high (HH). This indicates that the downtrend is likely to persist.
Signal for Trend Continuation: Hidden divergence is used to identify potential opportunities to enter or stay in a trend, as it suggests that the current trend is likely to continue in the same direction.
For Tesla:
Price Action: Price shows a lower high
Indicator: CCI makes a higher high
Price confirmation: To confirm this is a trend continuation, the price will need to trade below 180 on a close
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MAXIMAS82 : i do not see this going below 180
Mike Hoi MAXIMAS82: now already much lower....
MAXIMAS82 Mike Hoi: umm did u not check the date on my post that was for a month ago on February 14th gtfoh do your due diligence before you make dumb comments
Mike Hoi MAXIMAS82: he is talking about longer term down trend please