Tesla / TSLA is on a non-stop rise since the October 31st bottom.
Today it crossed over the 1day MA50.
The biggest obstacle lies on the Falling Resistance itself which rejected the price the last two times.
The Resistance becomes even stronger as it is exactly on the 0.786 Fibonacci level, which was the rejection point on September 15th of the previous rise sequence.
As you realize, a crossing over this double Resistance cluster will be a long term buy signal.
The 1day RSI has already crossed over its Falling Resistance, potentially giving an early warning.
Buy either if the price closes a 1day candle over the 0.786 Fibonacci level or if rejected, after a 1day MA50 pull back.
If it breaks over the 0.786 Fibonacci then, keep the buy and target 299.00 (Resistance A). If it closes under the 1day MA50, dump it.
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Today it crossed over the 1day MA50.
The biggest obstacle lies on the Falling Resistance itself which rejected the price the last two times.
The Resistance becomes even stronger as it is exactly on the 0.786 Fibonacci level, which was the rejection point on September 15th of the previous rise sequence.
As you realize, a crossing over this double Resistance cluster will be a long term buy signal.
The 1day RSI has already crossed over its Falling Resistance, potentially giving an early warning.
Buy either if the price closes a 1day candle over the 0.786 Fibonacci level or if rejected, after a 1day MA50 pull back.
If it breaks over the 0.786 Fibonacci then, keep the buy and target 299.00 (Resistance A). If it closes under the 1day MA50, dump it.
Follow us, like the idea and leave a comment below!!
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