Taking a look at the 2 week chart we can see that the $299 price level has served as a critical zone since January 19, 2021
Since reaching our bottom on January 3, 2023. Tesla has been on an unstoppable bull trend of higher highs and higher lows
After bottoming at 214, it appears a golden cross on our stochastic RSI indicator is forming, we are currently awaiting a confirmation here
Simultaneously, we can also see price is getting SQUEEZED between our support & critical zone in a textbook ASCENDING TRIANGLE FORMATION.
This pattern also mimics Tesla's price movement on April 1, 2013, shown below:
Similarly, this breakout occurred after 3 GREEN CANDLES were printed in a row... which when combined with the stochastic RSI golden cross, led to an insane 335% rally in just 168 DAYS!
Such a movement today would put Tesla at $1200 by February 2024, while possible, I find it very unlikely...
This however doesn't change my stance on TSLA, I have been expecting an imminent retest of the 400s by year end - Q1 2024.
Since reaching our bottom on January 3, 2023. Tesla has been on an unstoppable bull trend of higher highs and higher lows
After bottoming at 214, it appears a golden cross on our stochastic RSI indicator is forming, we are currently awaiting a confirmation here
Simultaneously, we can also see price is getting SQUEEZED between our support & critical zone in a textbook ASCENDING TRIANGLE FORMATION.
This pattern also mimics Tesla's price movement on April 1, 2013, shown below:
Similarly, this breakout occurred after 3 GREEN CANDLES were printed in a row... which when combined with the stochastic RSI golden cross, led to an insane 335% rally in just 168 DAYS!
Such a movement today would put Tesla at $1200 by February 2024, while possible, I find it very unlikely...
This however doesn't change my stance on TSLA, I have been expecting an imminent retest of the 400s by year end - Q1 2024.