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Tesla – Key Resistance Holds First Test, Bearish While Below (4hr chart)
Last week in our weekly market commentary, we talked about Tesla and how we have an overall bearish view while below the key levels 265 and 255. While 255 folded, the 265 key resistance level has held its first test.
I’m going to maintain my ST bearish bias while below the 265 level on a daily closing basis. If it holds, then we’ll likely see another move back down to test the 245/242 support zone. If it folds, then we’ll likely see a move up towards the multi-year resistance near 286 where I’d be happy to short the …... Keep reading