Today, the Bulls pushed the Tesla price up towards the resistance level at $206. Increase in the bullish momentum will lead to an increase in the Tesla price in which the $206 level may be its target.
Resistance levels: $206, $229, $250
Support levels: $182, $161, $136
TSLA Medium-term Trend: Bullish
On the medium-term outlook, TSLA is bullish. After the Bulls broke up the former resistance level of $182, the price carried out the price retracement and the Bears were unable to break down the $182 support level and there was a brief consolidation. Today, the Bulls pushed the Tesla price up towards the resistance level at $206.
Tesla (TSLA) price is trading above the 21-period EMA and the 50 periods EMA with a gradual increase in the distance between the price and the two EMAs which connotes increase in bullish momentum. Increase in the bullish momentum will lead to an increase in the Tesla price in which the $206 level may be its target.
TSLA Short-term Trend: Bullish
TSLA is bullish on the short-term outlook. The Bulls were pushing up the price towards $206 level; the mark was nearly reached before the Bears interrupted the Bulls. The price pulled back and consolidates at the dynamic support and resistance level.
The MACD period 12 with its histogram is below the zero levels which indicate sell signal which may be a pullback.
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