These are still the levels to watch on TSLA.
Here is an excerpt from my previous post. The price of TSLA has since dropped but the lower support levels you can see in the chart are still valid. The fibonacci support levels are the stronger levels to watch with the higher probability of a rebound, in my opinion. Here is a link to my previous post.
Fibonacci Support/Resistance
In the chart directly below, I have highlighted the major support levels and the fibinacci levels that often act as strong support. These are the areas I will be watching for rejection/rebounds and breakouts/breakdowns. These levels work quite well for me in my day trading and swing trading.
The fibonacci levels reside near the 213-214 area, 172.40, and 164.50 price points. The major support levels are at the 208, 199, and 185.50 price points.
As always, I am not a financial professional, and this is not investment advice. Be careful and be patient. Dont anticipate the market. Rather, participate in the market. Give your investments time. Don't be greedy. Don't invest in anything you don't understand. Don't put all of your eggs in one basket. Don't listen to the hype. Don't fomo or panic into or out of trades. Do your own due diligence. And just follow the trends. A trend is your friend. Good luck trading.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Asphen : bounce followed by a support formed lower around 200 or 190
SpyderCall OP Asphen : I like that 199-200 area
Asphen SpyderCall OP : destination however seems to point to low 100s