Tesla (TSLA): Still With Selling Pressure Around Quarterly Value Area High

Trader • Jul 6, 2021 at 9:04 AM EDT

Tesla's stock trades around the Quarterly VAH close level in a rotational manner while the swing failure pattern on the daily might lead the stock towards a rotational play to target the lower QVWAP or QVAL to find buyers.

Tesla's (Nasdaq: TSLA) stock trades around the Quarterly VAH close level in a rotational manner while the swing failure pattern on the daily might lead the stock towards a rotational play to target the lower QVWAP or QVAL to find buyers. The pre-market is down with minus 0.1% for now.

Cars Parked In Front Of Company Building

Image Source: Pexels

The monthly perspective established a balance area, testing the higher extreme for sellers.

The previous month closed with the inside bar pattern and the stock seem to found absorption above its highs which might lead towards an inside bar failure.

The company on Friday posted record vehicle deliveries as chip and materials shortages weigh on the stock.

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