TSLA has recaptured its all time high (traded on 18th December 2020) at the close of this morning session at $696.60, an intraday gain of +4.32% This totals up a +56.02% rally since the breakout of its Symmetrical Triangle chart pattern. Price volatility of TSLA has been picking since early December as Wall Street braced for the inception of TSLA into S&P500 on 18th December, with the necessary funds (i.e Physical ETFs) adjustments to match the benchmark’s shakeup.
As current price volatility remains significant at a range of 34/DAY ATR-14, TSLA has treaded into a month long consolidated Bearish Wedge chart pattern. The negation of this Bearish Wedge would require TSLA to attain $720 level within the next 10 trading session.