The Bulls are breaking up the resistance level of $206 as at the time of writing this report. In case the level is broken and the bullish candle closes above it, TSLA will be targeting $229 level.
Resistance levels: $206, $229, $250
Support levels: $182, $161, $136
TSLA Medium-term Trend: Bullish
On the medium-term outlook, TSLA is bullish. As it was predicted yesterday, the Buyers’ momentum is steadily increasing on the daily chart and the price is increasing accordingly. The Bulls are breaking up the resistance level of $206 as at the time of writing this report. In case the level is broken and the bullish candle closes above it, TSLA will be targeting $229 level. Should the $206 level holds, the price may reverse.
On the daily chart, Tesla (TSLA) price has broken up the two dynamic support and resistance level, thus, the price is trading above the 21-period EMA and the 50 periods EMA which connotes increase in bullish momentum and buy signal.
TSLA Short-term Trend: Bullish
TSLA is bullish on the short-term outlook. The bullish momentum increased and pushed the price to the resistance level of $206 and the Bulls are trying to break it upside and face the $229 resistance level.
The 21 periods EMA is above the 50 periods EMA and the TSLA price is trading above the two EMAs. The Stochastic Oscillator period 14 is above 80 levels (overbought level) which indicates that the price may reverse at the point.
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