TSLA and some good looking gap fills

7 พ.ค. 2023

On Tuesday April 18th sellers gained control of the price due to an unfavorable earnings report and over the next six days they push price from 180.05 to 152.37 thus creating technical damage in the stocks chart and the gap to form between 180.05 to 169.70, a $10.35 gap. The stock lost multiple key intraday levels during this technical breakdown including the 50 SMA and the 21 EMA on the daily chart price then began to consolidate under the 166 level for 10 days before breaking out on Thursday May 4th with 69% of its relative volume. Durning this breakout it reclaimed the daily 9 ema which is the first demand level for price action according to my strategy once its confirmed. Price put up a high of 170.06 & closed in the top portion of its range resting directly beneath its daily 21 EMA which is the second demand zone at 170.19 according to my strategy. If price rejects the daily 21 ema and the demand becomes supply, I will look to target the daily 9 EMA supply at 163.07 with confirmation for reversal upon the close of a candle and volume. I will look to either bounce at the 159 for a new run of the levels to the upside after the fake flush of the daily
9 EMA or a real flush of the 159 level and the downside gap fill beginning at 152.37 to 146.50. This gap was created on a favorable earnings report back in January 24th 2023 resulting in a gap to be created from 146.50 to 152.37.
The RSI is curling up looking to confirm its moving average and the macd is curling up to confirm its moving average on both, a 2 day chart and the weekly but both are still in bear territory. sorry for the audio