TSLA and F Techncial Outlook Video
This week we will be looking at two automobiles companies, Tesla TSLA and Ford F. As they begin to battle for top dog in the online streaming world.
On Tesla TSLA,
It has been in a uptrend and it looks like well with see price test the supply zone at 382.44 upto 387.13 this week. This is a major decision point to see if price will continue to break the high and move into $400 or if it will hold. Only time will tell, however, I see no indication at all in the technical price action that would stop it right now. However price is still slightly below the true supply zone. Overall, I’m looking for price to continue with trend into $400 and above
On Ford F this week,
Price is about to test the July high at $11.83. Price seems to have stopped just short of the supply zone at 11.69 up to 11.83. And I think we could see price move back down to the daily demand zone at 11.43 down to 11.24 before price really pushes back into the highs. The daily demand zone would be a nice place to buy and it gets you into the market just before a very probable retest of the high is going to happen. Overall, I would say that once price breaks 11.83 price is now in a new uptrend. However this supply zone could still cause some choppiness as it will more than likely reform into new demand for future price action.
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