Looking at TSLA on Weekly we can see that TSLA completed it's impulse wave up which started the beginning of dec,19. I think we are in a correction ABC pattern which should touch .618 fib extension or possibly go down even further to .786. RSI has been overbought since June and it is about time for this bad boy to take a breather. MACD is also ticking downward and reversing direction. In a healthy bull run scenario I can see TSLA bouncing off the 55 MA or at least holding it as a support for a while. This is if we think that the market will keep on going up. There are a lot of factors in play which will affect the market sentiment. One of the biggest being the presidential election in a little over a month. This will impact the general direction of the market as whole. I think a good buy zone will be $150-200 range. Any thoughts and feedback are always welcome! Good luck trading!
Don't overcomplicate things in trading