Is Tesla Going into Reverse?
Tesla had an acute rally in late March, but now there could be a clue of sellers taking the wheel.
The first big pattern on today’s chart is the trendline running along the crest of November 4, January 4, and April 5. Each time prices have petitioned with a bang, only to reverse lower the next candle. The ovals feature rejections near the highs, advancing the line remains important resistance.
Second, MACD edged lower on Friday. Similar short marked disadvantage turns at other times like mid-November and early January.
Third, TSLA made a greater high early last week. It then proceeded to close under the previous low.
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