Tesla (TSLA) chart updated
I use 3 basic trading systems (as well as basic proven charting techniques) ;
5, 50, 200 SMA crossover
5, 20, 100 SMA
5, 50, 200 EMA
Why ? Most stocks/commodities/forex will tend to stick to one of them, but not all of them.
I avoid lagging indicators (too many to mention here), but will sometimes use the MACD since I know that many traders will use it for clear divergence and oversold/overbought levels
Tesla analysis ;
Current trading system (5,20,100 SMA) is giving us a bearish signal
Was this recent pop up a fake move? We shall soon find out...
If you pay attention to the 5,50,200 SMA, you will note that the 50 is acting as a real resistance, and heading south.
Gut feeling? Heading towards a channel pattern, then ? lower ... (see fundamentals)