| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 168.45 |
| Take Profit | 150.00, 137.50 |
| Stop Loss | 180.00 |
| Key Levels | 137.50, 150.00, 187.50, 200.00, 212.50 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 187.55 |
| Take Profit | 200.00, 212.50 |
| Stop Loss | 177.00 |
| Key Levels | 137.50, 150.00, 187.50, 200.00, 212.50 |
Current trend
Shares of Tesla Inc., a leading manufacturer of electric cars, are moving within a long-term downward channel. At the end of last year, the quotes reached its upper limit of 267.50 (Murrey level [ 1/8]) and resumed their decline, which continues to this day.
Currently, the price entered the negative zone of the Murrey trading range and consolidated below the pivot point of 175.00 (Murrey level [2/8]), which will allow it to reach the area of 150.00 (Murrey level [0/8]) and 137.50 (Murrey level [–1/8]). After the consolidation above the key “bullish” level of 187.50 (Murrey level [3/8]), growth within the central Murrey channel to the area of 200.00 (Murrey level [4/8]) and 212.50 (Murrey level [5/8]) is expected.
Technical indicators confirm the likelihood of a decline: Bollinger Bands are horizontal, the MACD histogram is stable in the negative zone, and Stochastic has reversed downwards.
Support and resistance
Resistance levels: 187.50, 200.00, 212.50.
Support levels: 150.00, 137.50.
Trading tips
Short positions may be opened from 168.50, with the targets at 150.00, 137.50, and stop loss around 180.00. Implementation time: 5–7 days.
Long positions may be opened above 187.50, with the targets at 200.00, 212.50, and stop loss around 177.00.
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