TSLA has been in a descending Triangle Pattern which in theory has a greater odds of breaking to the down side eventually. nHowever, it is looking like the bulls will win this time. RSI is now well above 50, signaling strength. Plus we have a strong close right at the trendline "resistence" yesterday.
A breakup looks very likely today and I am expecting it to reach 764-780 in the coming weeks.
However, earnings are coming up shortly on 21 July (perhaps market is expecting a positive earnings surprise but bear in mind there are always risks involved trading into earnings).
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)
A breakup looks very likely today and I am expecting it to reach 764-780 in the coming weeks.
However, earnings are coming up shortly on 21 July (perhaps market is expecting a positive earnings surprise but bear in mind there are always risks involved trading into earnings).
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)