Market Overview (Tesla – TSLA)
Trend: Recovery phase after a strong downtrend; facing key resistance.
Key Levels:
Resistance: $368-$370 (200 EMA, key rejection zone)
Support: $353-$355 (Supertrend and recent demand zone)
Indicators:
EMA 9: $361.37 (Price slightly above, indicating short-term bullish bias)
EMA 200: $368.39 (Critical resistance; price needs a breakout for further upside)
Supertrend: $353.84 (Support level for continuation)
MACD: Weak bullish crossover, but limited momentum.
RSI: 62.26 – Approaching overbought zone, suggesting a potential pullback.
Scalping Strategy
🩸 Range Scalping (Preferred Strategy)
Buy near: $353-$355, targeting $365.
Sell near: $365-$368, targeting $355.
Stop-loss: Below $350.
🩸 Breakout Scalping (If $370 Breaks)
Buy above: $370, targeting $380-$385.
Stop-loss: Below $365.
🩸 Momentum Scalping (For Quick Trades)
Short near: $368-$370, targeting $355.
Buy near: $353-$355, targeting $365.
Mid-Term Trend Forecast (1-3 Weeks)
Tesla needs a strong close above $368 to confirm bullish continuation.
If $370 breaks, expect a move to $385.
If rejected from $368-$370, a retest of $353-$355 is likely.
News & Market Context
Tesla has been under pressure due to EV market slowdown and earnings concerns.
Investors watching for catalysts to drive sustained upside.
Market-wide sentiment remains cautious, which could affect Tesla’s next move.
Decision:
🩸 Short-term: Scalp buy at $355, targeting $365.
🩸 Mid-term: Watch price action at $368-$370.
🩸 Ideal Play: Short $368-$370 if rejected; buy above $370 if confirmed breakout.
Final Verdict:
Tesla faces a critical resistance zone at $368-$370. Breakout could fuel further upside, but failure may lead to another pullback.
LucanInvestor’s Quote:
“The market rewards patience, but punishes hesitation.”