Short-term bearish, long-term bullish.

2021年2月28日

TESLA on the weekly chart! One big concern I have in this chart is that it looks like TESLA is forming a head and shoulder, and that would be very bad for the price action. If my thesis is correct, we could see TSLA retests the key support at 580 (this week) before the next bull run. There will be nothing strange if TSLA consolidates for a while at this price range. Why? The RSI is still very high, it needs to cool down. The MACD has turned red for the first time. This red candle could get bigger over the next couple of weeks. If the bulls can hold it at 580 and turn the battle around, my price target for TSLA is $1360 by the August. Disclaimer: all charts do not take into external catalyst. These are purely data based on math.