Keep Support To Watch In TSLA

TSLA-- This AM, TSLA pressed to new reaction lows at 164.12 in the aftermath of its earnings disappointment, bearing down on the pivotal 3/13 low at 163.91, which has held so far against the selling pressure, but must continue to do so to repel the weakness to avert a much deeper correction off of the Jan-Feb rally from 101.22 to 217.82, that projects into the 158 to 146 next lower zone from where I will be expecting a U-Turn in TSLA... 

Furthermore, my 4-Hour Momentum gauge is warning me that at Noon ET, when the next 4-Hour Momentum reading is recorded, RSI needs to register 19.69 or above to avoid making a lower-low (vs. 3/13/23). A 4-Hour RSI reading beneath 19.69 at Noon ET will be a negative omen for TSLA price action, and will increase the likelihood that TSLA will press into the lower target zone (158 to 146) prior to putting in the next significant low.

Intraday, TSLA will need to reverse and climb above 170.30 to trigger a preliminary signal that the post-earnings down-spike is exhausted... last is 165.47 off of a spike low at 164.12

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!