Telsa has been wanting to break 700 again for a while, and the TA is showing that the buyer volume just might have enough to make TSLA pop.
Why bullish momentum?
RSI new high
MACD cross over + bullish bar (keep an eye on this spot especially particularly to indicate bullish momentum)
Hard VWAP bounce earlier July
700 has a pretty tough resistance, which is our first target R to break at the 128 day MA.
Retesting could indicate that we break through to upper Rs including: 714, 723, 753, 780 (targets). I will 1/2 TP at 715 and see whether we get a wick indicating profit taking or if bullish momentum holds and new buyers firmly enter tesla. S/L roundabout 665.
Note: I do short term holdings, no longer than 2 trading days max.
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Tesla did not break-out - I am now holding tesla puts (shorting)