The past year has been so clean for TSLA in terms of respecting the fib retracement levels. The 1M and 1W MAs have also been respected.
Using the fib retracement levels starting from the bull run back in 2019 until the high in late 2021, we can easily find TSLA's support and resistance levels.
I am currently bullish on TSLA for these reasons:
- We are currently sitting at the base of 0.618 as support, moving up towards 0.5.
- The RSI has recently touched the green support Bollinger band.
- The price has gone above the 1W MA.
- There is a bull flag forming, waiting to be broken.
Technically, this is enough support for me to go long.
My price target is at 200 by June 9th, but 212 is also possible.
This is not financial advice. Please trade and invest at your own discretion. Do your own research before making investment decisions.
Using the fib retracement levels starting from the bull run back in 2019 until the high in late 2021, we can easily find TSLA's support and resistance levels.
I am currently bullish on TSLA for these reasons:
- We are currently sitting at the base of 0.618 as support, moving up towards 0.5.
- The RSI has recently touched the green support Bollinger band.
- The price has gone above the 1W MA.
- There is a bull flag forming, waiting to be broken.
Technically, this is enough support for me to go long.
My price target is at 200 by June 9th, but 212 is also possible.
This is not financial advice. Please trade and invest at your own discretion. Do your own research before making investment decisions.
