-Tesla stock movement has consolidated into a symmetrical triangle pattern.
-RSI is not yet in overbought territory. This allows room for upward growth.
-ADX and DI indicators are showing a slight crossover, meaning that Bulls are gaining traction over Bears which is a Bullish signal.
-TSLA is moving in an Upward Trend Channel
Long Strategy- if Upper Resistance of Triangle is Broken:
Buy: $297-$298
Take Profit: at next resistance ($305)
Estimated Profit: 1.67-2.3%
-RSI is not yet in overbought territory. This allows room for upward growth.
-ADX and DI indicators are showing a slight crossover, meaning that Bulls are gaining traction over Bears which is a Bullish signal.
-TSLA is moving in an Upward Trend Channel
Long Strategy- if Upper Resistance of Triangle is Broken:
Buy: $297-$298
Take Profit: at next resistance ($305)
Estimated Profit: 1.67-2.3%