TESLA: 'Final boss' Resistance test.

TSLA was rejected on the November 29th test on the LH trendline of July's High but upon the pullback it held the 4H MA50 and reversed. Contrary to the previous LH rejections (Oct 11th, Sep 15th), the stock is being given the chance to make another test on a very short time. Being still bullish on the 1D technical outlook (RSI = 57.232, MACD = 1.890, ADX = 23.357) suggests that if the 4H MA50 remains intact, Tesla can finally cross over this five month Resistance trendline and start a new rally.

The longer the price stays this high, the more quicker a 4H Golden Cross will be formed, which is will be a bullish signal validation. Last 4H Golden Cross was registered on June 5th, almost halfway through the three month rally. In any case, it the LH of July successfully breaks, we expect the established Channel Up pattern from the October 31st bottom to make another +20% rally to the R1 level (TP = 278.00).

See how our prior idea has worked:


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