Tesla Inc. Stock Code TSLA.NAS
Outlook
After reaching a high of $1155.49 on 15 April, price went into a correction. The correction is coming into the Fibonacci 50% correction point as well as the upper edge of the cloud support. Base line is also proving support around that level, which should increase the strength of the support. Conversion and Base lines remained in a bullish crossover, hinting at a bullish price trend. Lagging Span is above price of 26 days ago but is inside the cloud. MACD is bullish with both lines above the zero line. We think price is likely to be supported by the thick cloud and is likely to move higher to the previous price high at $1155 in the next 2-3 weeks.
Strategy
$930.00 Buy
$1155.00 Price Target
$890.00 Risk Management Stop
3 weeks Trade Duration
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