howtoreadchart
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Here is analysis of TSLA stock. I did not pay attention to its price for a long time. Chart formed a great story here.
Blue line is 200 round number level.
Blue line is 200 round number level.
- As price broke under the blue line, market did feel some sort of Panic. The Panic increased by breaking down the support line of big range channel. … But look the volumes/price range. Narrow range amid too much volume. What does it mean? Professional buyers absorb cheap good stock.
- Genuine Demand Pushed Price Higher.
- Here is the next decline and approaching 200 line. But look the volumes this is a lack of Supply Pressure. Market experienced lack of Sellers.
- Fake down move (Trap) before advance.
- Demand up-move (probably, on good news about Earnings).