Technical Pulse: Tesla Inc. January 25, 2022 246

Tesla Inc (US: TSLA) has been stopped out based on our report dated 11th Jan 2022 but we also mentioned in that report that the stock will likely find its rebound at US$880-US$853 and it did rebound at the zone on Monday. Wave analysis also pointed out a return of the bullish sentiment:

 

  1. The double three corrective wave was completed after prices rebounded at the major support zone at US$880-US$853.
  2. The bullish hammer rebounded strongly above the 1:1 ratio of sub-wave (A)-(B)
  3. The RSI shows oversold and potential bullish divergence should the RSI show a complete uptick above the 40 line.

 

 

*Expected timeline of the trade is 20 weeks from the date of report issuance.

 

CHART LEGEND

 

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

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