Tesla is sitting at the support level priced at 255. From here, the market can hop towards the bullish side touching the resistance level which is priced at 300. The market is in a bullish trend given the latest quarterly earnings of Tesla, the market skyrocketed. Apart from this, we are still seeing the market continuing moving upwards.

The descending trendline is on the verge of being broken out for buys. Once its breached, market can further move up with its confirmation.

Although the EMA 50 is bearish, it can turn tables once the market starts to move towards the bullish side and breaks the EMA 50 towards the upper side.

RSI is at 38. It needs to breakout from the 50 level of neutralization and then retest it, aligning with the technical analysis and then continue moving up.

Tesla bullish

Aug 03 2023