GM Investors, 😊
Get ready for a wild ride through this week’s financial insights.
In this edition, we’re setting our sights on the ever-evolving landscape of the stock market, with a keen focus on the S&P 500, where we’re observing the stability of the current trend.
Meanwhile, we’ll be looking into Tesla’s persistent downtrend, Nvidia’s rising wedge pattern, examining Apple’s crucial black level and much more.
It’s a captivating market journey – let’s dive in! 🚀
No real trend change since last week, however the SP500 is still holding orange as support.
To rally higher, it needs to turn the top of the box into new support to challenge for the green Lower High above.
It’s possible SP500 will see a period of sideways around this orange region until further notice.
One side note however: the last time the SP500 held the orange area as support was in early 2022 before breaking down.
It’s important that this orange area of old support doesn’t turn into a new area of resistance as that could reject the SP500 back into the blue level below.
The bottom of the orange area is key in supporting the uptrend and at the moment.
Tesla — TSLA
TSLA has been in a downtrend since late 2022 (black downtrend).
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