Sell #Tesla now within 258.83-252.37. | 26 Juli 2019

#IBM weekly

 Sell #Tesla now within 258.83-252.37.

Technical observation

Last week this commodity rose even higher above a zone 140.201-137.91 it had just penetrated above and my expectation is a correction to the zone followed by a rejection within it for possible bullish momentum towards the key level 172.70 and a possible break above it for a further increase in value of this commodity. Wait for a correction to 140.201-137.91 and a rejection within it to buy #IBM with your take profit at 172.70 and stop loss at 127.08, continue long after a breach above 172.70 and a pullback to it. As long as the value of this commodity remains above 140.201-137.91 only long positions can be recommended.

Trade recommendation

 

Wait for a correction to 140.201-137.91 to buy #IBM.

#FedEx weekly

Sell #Tesla now within 258.83-252.37.

Technical observation

The value of the commodity on the weekly chart above is below a resistance zone 184.83-179.72. I expect a rise to the zone followed by a bounce within it for bearish movements towards the key line 144.94 and a possible penetration below it for a further decline towards 101.77. Wait for a retracement to 184.83-179.72 and a bounce within it to sell this company’s shares with your take profit at 144.94 and stop loss at 196.97, if this take profit is hit and there’s a clear breach below it, continue short with this commodity after a correction and a bounce at 144.94 confirming further bearish movements of #FedEx.

Trade recommendation

Wait for a retracement to 184.83-179.72 to sell #FedEx.

#Tesla weekly

Sell #Tesla now within 258.83-252.37.

Technical observation

For the past three weeks #Tesla has been retracing towards a resistance zone it established around 258.83-252.37, last week’s candle closed within the above mentioned zone and this week I expect bearish rally towards the supportive level 181.67. My advice, sell this commodity now within the zone 258.83-252.37 with your take profit at 181.67 and stop loss at 282.19, in case of a clear break below 181.67 further bearish momentum towards the key level 97.01 can be expected. On the chart above long positions may only be recommended in case of a clear penetration above 258.83-252.37 with a big green candle and a correction to it.

Trade recommendation

Sell #Tesla now within 258.83-252.37.

Imelda Maseno
Analyst of «FreshForex» company
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