Tuesday 31 January 2023

TSLA: 60%+ Rebound rally reached the Cloud Chart Resistance $179 Target Zone. Consolidation Risk: 152/141 and 131!

 TSLA:  60%+ Rebound rally reached the Cloud Chart  (CC) Resistance $179  Target Zone. Consolidation Risk:  152/141 and 131! 

Need to see a breakout past the top end CC resistance zone (179) to change the outlook from bearish to bullish on the CC. There is downside consolidation risk towards the bottom end and front end CC support zones 152/131! Swing trade opportunity when TSLA tests the STD line of the cloud as well as the TL of the cloud. As long as TSLA can remain above the bottom end of the CC support zone there might be a new bull rally emerging on the daily CC. 

The weekly CC show the 179 front end Cloud Chart resistance zone.  Can see a rebound if support comes in at the TL of the CC at 146! Upside resistance targets are 179 then 208 (STD line of the CC) and then the top end of the CC at 243! Downside risk on the weekly is around the 128 zone another support zone on the daily CC. Looking for rebound swing trades from key CC support zones towards the key CC resistance zones!

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