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Showing posts from October 18, 2023

Analyzing Tesla's Future Trends: Navigating the Bearish Territory

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As of Wednesday, October 18th, Tesla stock has entered the Bearish zone. Over the past 11 days, it exhibited an upward trend and correction pattern within the Bullish zone. Particularly, yesterday showed signs of transitioning from the correction pattern to a strengthening upward trend, indicating a possible re-entry into the Bullish zone. However, a sudden surge in selling pressure resulted in a sharp decline, leading to a strong bearish close. This trend is clearly depicted on the 'Trend zone' chart. It's crucial to note the moment where the trend attempted to shift from the Bullish zone to the Bearish zone but failed, leading to a rapid downward turn. Today marks a significant turning point, transitioning from the correction pattern to a clear downtrend. The outlook suggests a prolonged period of bearish momentum. We need to abandon expectations of the previous upward and correction trends, as well as the subsequent rising trend within the Bullish zone. The trend is anti

Market Analysis: Shifting Trends and Crucial Turning Points in the Nasdaq Index.

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The Nasdaq index has been in a bullish zone for the past nine days. It entered the bullish zone nine days ago and has been on an upward trend since then. However, starting from last Thursday, there has been a shift to a correction trend, which has continued until today, October 18th. Particularly, yesterday, there was a sudden decrease in selling pressure and an increase in buying pressure, indicating a potential entry point for the resumption of the upward trend. This led to expectations of a short-term upward movement for the next 2-3 days. However, today, selling pressure suddenly surged, leading to a failure in the continuation of the upward trend. The market seems to have reverted to the previous correction trend, indicating a potential signal for a strong downtrend starting next week. Up until yesterday, there were expectations of a short-term upward trend, followed by a strong downtrend starting next week. However, concerns arose due to news of 'Additional Sanctions on Chine

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