I’m currently bullish on TSLA, as the price is above the 200, 50, and 21 moving averages. In addition, TSLA formed a bullish pennant from the uptrend from 01 July. Price is currently hovering at the 38% retrace level from the $1794 high on 13 July. This is an indication of very strong bullish trend. The low volume gives me indication that the market is accumulating shares of TSLA (under the radar) prior to the breakout of the next trend. The linear channel depicts that TSLA was outside two standard deviations of the uptrend since the COVID-19 recovery. Now that the price is in the center of the channel, I anticipate a push to the upside with an initial target of $1800.
TSLA, could decide to break to the downside, and if it does, I see support at the 50 EMA which is $1263 at the moment.
Happy Trading!
TSLA, could decide to break to the downside, and if it does, I see support at the 50 EMA which is $1263 at the moment.
Happy Trading!
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My outlook on TSLA remains bullish. Price is now in a channel between the 38% and 58% retrace from the ATH on 13 July. Price may even fall to the 68% retrace, which still indicates a bullish trend, albeit weaker.
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Tesla just announced a 5-1 stock split......Watch this baby soar!!!!!
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$1800 Target Reached.
