Tesla has been riding along this pink dashed support line since early 2020. Every time it makes a significant move down and towards the trendline, the subsequent bounce leads to massive 90%+ rallies. Since Jan 2021 we have been experiencing massive consolidation toward the trendline, and within the last few days (late July) we have bounced off of it again. I don't expect a straight and direct rally to $1200 but I believe we'll see a steady move toward the $1k+ range throughout the end of the year. MacD on day candles also reveals a weakened bear trend. Breakout of this enormous 7 month falling wedge has also been confirmed. A measured move from previous support rally calls for a target around $1250.
Comment:
MacD on 1w candles has completed a bullish crossover as of today!
