Tesla Inc. Bearish Channel Breakdown with Short-Term Rejection
By:TradingView
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Price was initially ranging in a consolidation zone (blue area), then broke structure (BOS) and entered a strong bearish channel (red). Inside the channel, price kept making lower highs and lower lows, confirming a clear downtrend.
Recently, price showed a strong bullish push creating a CHOCH (Change of Character), but it is now approaching a key resistance/supply area near the Ichimoku Cloud. This area is likely to act as rejection again.
🎯 Target:
If rejection confirms, the next downside target is around 369.00 – 370.00, as marked on the chart.
Recently, price showed a strong bullish push creating a CHOCH (Change of Character), but it is now approaching a key resistance/supply area near the Ichimoku Cloud. This area is likely to act as rejection again.
🎯 Target:
If rejection confirms, the next downside target is around 369.00 – 370.00, as marked on the chart.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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