Market Capitalisation: 916.55 Billion USD
As you can see in the daily chart above, there are certain important levels where this stock can take supports as there are multiple Demand Zones below.
We need to wait for the certain levels, this certain levels are the levels below that is 231, 213 and 182. We all know it is having very great fundamentals as it is owned by the World’s richest person. Company is performing great all around.However, for the good entries we can wait for market to come down or to move upside and sustain above the important level that is 290 and above.
Futhermore, for the good entries, we should wait for tesla stock to spend some time at the nearest resistance level as it went down multiple times from the same resistance and hence created small supply area on the daily chart.
Moreover, for having good stability, we should wait for it to create the retest patterns near 290 or wait for it to break the resistance level and have a proper retest pattern of any type.
Also, we can see that it is likely creating good spikes in the volumes as well, which is very important for us to proceed with the momentum.In the next chart below, I’ll be discussing something about the EMA by Happier Trader 20, 50, 200 altogether.
Friends, for paper trade, you can clearly see in the above chart that there there is a certain level which is EMA 200 (Dark Black Line) at 293. So basically there are 3 lines of EMA, black is EMA 200, blue is EMA 50 and red is EMA 20.
That that means the line which is showing that is absolutely working as a resistance and we have to understand one thing if there is a EMA resistance, we have to wait for a proper going up then taking a pause which will be as a re-test and then going outside again then only will be confirming that there will be upside movement in me a future.
Because if it will not sustain at that particular level then definitely it can go downside again and it will be again in the range of 200 EMA and 50 EMA. And further we will have to wait for proper Price Action.
I believe this article will be wonderful for your analysis, as it is very important for you in terms of understanding how market is going to work in the future and also you need to understand the key points.
You should not go behind tipsters because we will not be providing you any tips instead we are giving you the solutions of learning how to become a professional in terms of understanding the market moves.
The ideas that how your plannings must be going on and how market works. This article is not for real trades, instead you can improve your paper trading with such ideas and become strong to trade on your own in future.