TSLA, META & OGI Analysis - Founding Members Club

Tesla (TSLA) is trying to hold onto a higher low and get some momentum going. It still has an uphill battle because it is below the downtrend line, 200 EMA and Volume Profile Point of Control (POC) at $176.77. It is also in a red cloud, so resistance and choppy action is expected. It is below the 9 EMA so it does not have bullish near-term momentum yet. It is above the 21 EMA at $173.62 and must hold above this EMA to get any momentum going. On the positive side, RSI is above 50 and MACD is above 0. TSLA has to hold these levels. CCI is above 0 so it is in a budding uptrend. Buying volume does not look that strong, so I wouldn’t be jumping at a trade here. The cycle bracket renewed on 4/19 and TSLA did have a change in complexion, however the upward momentum seems to have been dampened by the cloud.