technically Tesla is looking good for a trade to previous high, after the sell off in all stocks a few weeks ago the market has seemed to have calmed down and seen buy pressure creating a push past previous resistance that has now become support, now we are seeing consolidation at this zone (green zone) and our upper zone (red zone). so this could be a good opportunity if we see a bullish engulfing candle on the 4 hour timeframe to place a buy with our stop loss below our lower zone of buy support and our final target at previous high, or we might just trail or stop loss giving us more profit and allowing us to ride this next bullish move on Tesla.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.