On January 28th, 2022, we published the “Bingo! TSLA” post and shared that TSLA reversed its downfall from $1200 right on its long term daily simple moving averages. Tesla has been respecting its wick support since, for the last week:
Here is a zoom in view:
We’ll keep our eyes on the price behavior. Could TSLA shoot back up now? Absolutely. Could it continue down and break the supporting SMA lines? Absolutely. Historically these lines held, and since we’re in a probability game they may continue to hold.