Tesla / TSLA is on a Channel Up trade since the start of the year.
Now that we are approaching its end, the price is trading around the 1day MA50 and within the 0.236 - 0.382 Fibonacci range.
This is the final consolidation before the final phase of the bullish wave begins.
Based on the 1day MACD's identical structure from January until May, we are on the consolidation phase like May 25th (also between 0.236 - 0.382 Fib), with the 1day CCI pulling back having crossed over its Falling Resistance.
The target should be a minimum of $295, which is on the 0.618 Fibonacci level, marginally under Resistance A and on a -5 degree ° angle relativeo to the previous bullish leg of the Channel Up.
Previous chart:
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Now that we are approaching its end, the price is trading around the 1day MA50 and within the 0.236 - 0.382 Fibonacci range.
This is the final consolidation before the final phase of the bullish wave begins.
Based on the 1day MACD's identical structure from January until May, we are on the consolidation phase like May 25th (also between 0.236 - 0.382 Fib), with the 1day CCI pulling back having crossed over its Falling Resistance.
The target should be a minimum of $295, which is on the 0.618 Fibonacci level, marginally under Resistance A and on a -5 degree ° angle relativeo to the previous bullish leg of the Channel Up.
Previous chart:
Follow us, like the idea and leave a comment below!!
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