Increase in the Bulls’ momentum may push the price above the $206 level provided the level does not hold.
Resistance levels: $206, $229, $250
Support levels: $182, $161, $136
TSLA Medium-term Trend: Bullish
On the medium-term outlook, TSLA is bullish. The Bulls pushed up the price and it reached the $206 level yesterday. The Bulls’ momentum was not strong enough to break up the level and the bears also defended the mentioned level. The Bears gained more momentum and the price descended towards $182 support level but held by the dynamic support level. Today, the price is currently pulling back with the formation of a big bullish candle.
The TSLA price is trading above the 21 days EMA and 50 days EMA as a sign of an increase in the Bulls’ momentum. Meanwhile, the Stochastic Oscillator period 14 is above 25 levels with the signal lines bending up which indicates buy signal. Increase in the Bulls’ momentum may push the price above the $206 level provided the level does not hold.
TSLA Short-term Trend: Bullish
TSLA is bullish in the short-term outlook. Tesla price has broken out of the consolidating mode. The TSLA price is trading over the two EMAs and the 21 periods EMA is interlocked with the 50 periods EMA.
The Stochastic Oscillator period 14 is at 70 levels and the signal lines pointing up to indicate a buy signal.
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