As we are going to the next week‘s earnings, there are a lot of company to watch. One of them is Tesla tomorrow on the 26th July.
So, in general, I am optimistic about higher prices based on the current chart:
1. Higher highs and higher lows (from Mid-May) which indicate that an uptrend is occurring
2. Break out of triangle (white lines)
3. 200 SMA Support
But with the earnings it's always tricky, and it can easily go the wrong way.
If we see a decent forecast by Elon Musk, we can definitely rise up to 750$ and more (->next resistance 883$)
I would recommend putting your stop lost at 625$ right some pennies below the 50 SMA.
Under that, we have to expect much lower support of 590$ and 537$.
So, in general, I am optimistic about higher prices based on the current chart:
1. Higher highs and higher lows (from Mid-May) which indicate that an uptrend is occurring
2. Break out of triangle (white lines)
3. 200 SMA Support
But with the earnings it's always tricky, and it can easily go the wrong way.
If we see a decent forecast by Elon Musk, we can definitely rise up to 750$ and more (->next resistance 883$)
I would recommend putting your stop lost at 625$ right some pennies below the 50 SMA.
Under that, we have to expect much lower support of 590$ and 537$.