On the daily chart we can see that a similar candle was just printed to May 16, 2023, in which Tesla stock hit a local bottom before ripping to the upside
Along with this, we can see the RSI is posted up just below the green line, However this time with a bit of distance from the orange line... I want to show a few local levels to watch for + a path to the $300s
To the downside, watch the 223 - 231 zone leading into Cybertruck day. we could fill this gap one more time before resuming the trend up
246 - 258 would be your upside range, in addition to breaking the upper range of our 4 month bull flag we have been forming since July 19
If a bull flag breakout is confirmed with strong price action to the upside, Tesla will go higher than $300 & potentially go as high as $340 in an "EOTY Rally"
Let's see what happens!
Along with this, we can see the RSI is posted up just below the green line, However this time with a bit of distance from the orange line... I want to show a few local levels to watch for + a path to the $300s
To the downside, watch the 223 - 231 zone leading into Cybertruck day. we could fill this gap one more time before resuming the trend up
246 - 258 would be your upside range, in addition to breaking the upper range of our 4 month bull flag we have been forming since July 19
If a bull flag breakout is confirmed with strong price action to the upside, Tesla will go higher than $300 & potentially go as high as $340 in an "EOTY Rally"
Let's see what happens!