TSLA
The shares of Tesla Inc., an American electric car maker, are correcting around 921.00.
On the daily chart of the asset, the price is moving within the global downward channel with dynamic boundaries 1050.00–560.00 and is trying to approach the resistance line.
On the four-hour chart, the signal is being processed after overcoming the upper limit of the local Triangle pattern around 755.00. There may be obstacles in the way of further upward movement of quotes, and the first serious of them may be the local resistance level of 955.00, which the trading instrument can reach today.
Technical indicators signal continued growth: fast EMAs on the Alligator indicator are moving above the signal line, and the AO oscillator histogram is forming bars with an uptrend in the buying zone.
Trading tips
Long positions may be opened after the price rises and consolidates above 955.00 with the target at 1145.00. Stop loss – 900.00. Implementation period: 7 days or more.
Short positions may be opened after a reversal, reduction, and consolidation of the price below 867.00 with the target at 754.00. Stop loss – 900.00.
******All indicator readings and price values are historical data. Past price behavior is not a reliable indicator of future performance.