Carolyn Boroden Analysis: Retracement Analysis on Low Risk Setup in TSLA
Carolyn Boroden analyzes an intraday chart of TSLA to demonstrate a basic retracement analysis
In today's video, we take a look at a low risk setup in TSLA following its third quarter earnings release. Following earnings, the stock made a notable (news-oriented) low, which held and reversed, and from which we can run retracements to get an idea of support and resistance levels. We see that key support lies in the area of 233.83-237.25. Buy triggers in this area should be executed if the support holds, and projecting prior moves gives us an initial price target of 249.26, followed by 252.52.
