Wednesday, February 23, 2022 3:30 PM EDT
A quick update on Tesla (TSLA) which has continued to struggle since my 2nd February post the extent of which we can see on the annotated daily chart. I have also included the weekly chart for downside levels likely to be tested. The good news is these look robust.
(Click on image to enlarge)
In addition, we also need to wait until Friday’s close before we can make a meaningful assessment of the price/volume relationship.
(Click on image to enlarge)
Charts from Ninjatrader and the accumulation and distribution indicator is my own and available from Quantumtrading
Disclaimer: Futures, stocks, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in ...
more
Disclaimer: Futures, stocks, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures, stocks, commodities and forex markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, stocks, commodities or forex. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. Past performance of indicators or methodology are not necessarily indicative of future results.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
less
How did you like this article? Let us know so we can better customize your reading experience.
