Tesla has already reached the 78.6% corrective target at 97.98 but a firm bottom doesn't look to be in place just yet. We expect a temporary rally towards the 145-146 area from where a new attack on the downside is expected. We don't see Tesla making any major progress towards the downside, but we should see a new low below the former low at 101.81.
Short-term we expect minor resistance at 124.50 to be able to cap the upside for a minor setback to the 110-112 area before a new attempt to break above 124.50 for a rally towards the 145-146 target area.
Relevance up to 07:00 2023-01-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
