TSLA Upwards Channel - Possible Long

Jun 1, 2023

TSLA has been creating a strong upwards channel in which it is breaking out of the flag which was shown in the linked idea. If it does break out of this channel in the upwards direction (the current price to break out of would be around $208.17), then it may have around a 7% push upwards to a new smaller target of around $221.78.

Jun 2, 2023

Note

Seems as if TSLA has broken the top resistance. If it continues its upward trend, the price target would be around $231.64.

Jun 4, 2023

Trade active

Entered the trade at $208.48. Price target did change from the $221.79 level since TSLA did breakout of this parallel channel later. The new price target for this exact trade is $231.97. However, TSLA also does have a higher price target which it could hit of $242.46.

Jun 8, 2023

Trade closed: target reached

TSLA has officially hit the long price target! Congratulations traders!