1. Each bottom represents an approximate $60 increase from the previous one ($55-$115-$175-$235) and on Friday we closed just above $235.
2. TSLA rebounded off of the orange trend line twice, seems like its going for a third time.
3. $235-$240 level has a history of being a support/resistance level dating back to March of this year.
4. The RSI shows TSLA is oversold at the moment, and when TSLA is oversold, it doesn't stay that way for long.
5. The stock is currently at the 100 Day Moving Average (DMA), where it could potentially find its first support.
6. TSLA hasn't gone below the 200 DMA in 2 years, meaning there is huge support there, and it is only $15 (6.4%) away if the stock manages to break below all the other trends.
2. TSLA rebounded off of the orange trend line twice, seems like its going for a third time.
3. $235-$240 level has a history of being a support/resistance level dating back to March of this year.
4. The RSI shows TSLA is oversold at the moment, and when TSLA is oversold, it doesn't stay that way for long.
5. The stock is currently at the 100 Day Moving Average (DMA), where it could potentially find its first support.
6. TSLA hasn't gone below the 200 DMA in 2 years, meaning there is huge support there, and it is only $15 (6.4%) away if the stock manages to break below all the other trends.