Here's your technical chart set-up for trading Tesla $TSLA.

Here's your technical chart set-up for trading Tesla $TSLA.

$TSLA closed April 26 at 285.48.

This set-up is a long over 280.00.

Your next major resistance is at 303.90 so be sure to trim longs in advance of that and then if resistance is breached add over that to the next resistance and then rinse and repeat. The horizontal fib lines on the chart show you support and resistance points. Also of note are the red dotted horizontal lines, they are also support and resistance lines, they represent historical support and resistance levels that can affect trade - pay some note to them also.

If 280.00 support (which is the main pivot in this trading range... mid trading quad support) then look to support at 255.60. If you're short you will want to start covering in advance of trade getting to 255.60. If that is breached to the downside then add to your short and trim in advance of the next support on the chart.

I've made the chart easy to manage visually by adding white arrows to each major support and resistance level. The white arrows are your primary buy sell triggers. Note also the white arrows at the "trading quad walls". These are Fibonacci based trend-lines that form a trading structure "quadrants". They also act as support and resistance.

The red circles are price targets. The price targets for Nov 15, 2018 are 383.00 (bullish), 280.00 (moderate), 175.00 (bearish). Trade in accordance to price action toward the appropriate target. It is paint by numbers trading - just follow the rules and if your trade fails be sure to cut losses quickly and be ready to turn with price as needed. Trust the plan.