novvoll12

TSLA $257.47 - neutral- Tests falling channel resistance

NASDAQ:TSLA   TESLA MTRS INC
108 0 1
TSLA             staged a strong rebound off the 232.74 low (August 12, 2015) to test a 4-week falling channel resistance (as shown on the daily chart ). A clean break through the 259.99/260.00 area would confirm a bullish channel breakout and extend strength towards 271.00 then 286.65. However, if the 259.99/260.00 area manages to cap the upleg, that would prolong the consolidation towards 232.74.
Outlook:
Short term: neutral
Long term: bullish
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