Tesla is in ascending triangle which has bias to break to the upside.
Good fundamentals and strong demand.
RSI is also in ascending triangle.
I expect the price to either retest the uptrend line or break the $460 mark and go for $500.
How to play this?
So either buy the break of $460 or set a long position at $415 for improved reward.
If comes below 438.7 then short with SL 441.7 for TGT 400.
If goes above 451 then BUY with SL 441.7 for TGT 480.
At 480 short with SL 487 for TGT 400
Follow us on telegram for live assisted calls - highsocietytrading
This stock has been showing so much promise but there seems to be no impact on its ability to head higher . The last few weeks it has been attempting to tread to a new high only to meet with supplies. AFter forming a Type 2 negative divergence the prices are swiftly heading lower. Now with the breach of the support trendline we could be looking at some selling...