I’ve mentioned the trio of Fibonacci horizontals being resistance, day after day after day. Yesterday morning, in light of the big Morgan Stanley report, Tesla (TSLA) leapfrogged all three instantly. What’s AMAZING to me is that yesterday’s low matched TO……..THE………PENNY……..the topmost Fib line. In other words, it has absolutely flipped from resistance to support, and with stunning accuracy. I’d say we’re rangebound in the yellow zone now.
(Click on image to enlarge)
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