Tesla has been in a bearish market with the bearish trend and the formation of lower lows and lower highs. This means, there is further fuel downwards towards the support level of 190. We can short the market at the current level of support piercing and then continue going down.

EMA 50 is bearish and due to its bearish potential, we can ascertain that a further down impulse is on the books.

RSI is at 27. It needs to be neutralized at the 50 level in order to align with the technical factors.

It needs to be noticed that we do not have much confluence on the Tesla stock to take this trade. It might be a risky trade due to lower confluence confirmations. Therefore, mitigate the risk by placing the stop loss.

Tesla dive down towards 190

Oct 26 2023

Stop Loss -4.87%

Holding time 1d0hr

214.58

Entry price

225.02

Stop loss price