FX.co ★ Technical Analysis of Tesla for December 10, 2020

Tesla stock continued higher to test resistance at 654 a bit over the expected target at 605, but still we had a pretty good idea that a top was nearby and more downside pressure in the weeks to come shouldn't come a surprise to anybody. Here we only have the 4-hour chart, but the longer the timeframe the larger the negative divergence become, clearly a strong sign of a possible top being close at hand.

We will be looking for a decline to at least 418, but it could be a lot deeper than that.

All trends eventually runs out of power and Tesla's seem to have lost its power.