Tesla Inc. (TSLA) opened with a positive gap yesterday, overcoming the downside resistance line taken from the high of November 4th, as well as the $1200.00 barrier. The stock continued its journey north and touch again and reverse from the strong resistance level around $1200.00 per share. In the experts' view, this, combined with the fact that the share price respects a newly established upside line and statistic shows us up probability in next 11 days, paints a positive near-term picture.
A break above $1204.00 could allow a second test at the record high of the stock, at 1245, the break of which would take investors into uncharted territories, and perhaps pave the way towards the 1300 zone. If participants are not willing to stop there either, then a break higher could see scope for advances towards the next round figure, at $1400.00
Shifting attention to our short-term oscillators, we see that the RSI moved higher and crossed its 70 lines, while the MACD lies above both its zero and trigger lines. Both indicators detect upside speed and support the notion for further advances in this stock.
The outlook could darken somewhat upon a break below the $1056.00 barrier. This would take the stock back below to the levels around $985.00. That said, a break above that level is the move that could carry larger declines, near the $897.00 zone.
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A break above $1204.00 could allow a second test at the record high of the stock, at 1245, the break of which would take investors into uncharted territories, and perhaps pave the way towards the 1300 zone. If participants are not willing to stop there either, then a break higher could see scope for advances towards the next round figure, at $1400.00
Shifting attention to our short-term oscillators, we see that the RSI moved higher and crossed its 70 lines, while the MACD lies above both its zero and trigger lines. Both indicators detect upside speed and support the notion for further advances in this stock.
The outlook could darken somewhat upon a break below the $1056.00 barrier. This would take the stock back below to the levels around $985.00. That said, a break above that level is the move that could carry larger declines, near the $897.00 zone.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.