$TSLA TOP 20 UPDATE
Added 2023-06-15 12:09:57 +0000 UTCPulling back in the PM now but a lot of stocks will be letting of steam after yesterday's hawkish view from Powell and the potential issue that rates won't be cut for a number of years.....I don't believe that but he did say it.
A pull back for $TSLA is definitely needed now regardless, the RSI (89) is even higher now than it was when it ran at the start of the year....a pull back to the Blue line which I had added is still very healthy. This is a support line that has been used in the past, as you can see from the chart in June last year and it is also the previous high in Feb this year.
However, if $TSLA pulled back to this Blue line and it does not hold, this is not a good scenario for $TSLA, I spoke before that as long as there is 3 waves from the start of the year, the corrective wave can not be ruled out.....and we can see very clearly that there was two parabolic moves, I have circled them in white and so there is 3 very clear corrective waves so far.
I've got to favour the bulls for now, they have been stepping in heavily and $TSLA has a cult following, driven by Elon, so it is up to them to hold this blue line now.
