Tesla has been performing well since a few days. Now, we are looking to long on the script as its standing still at the support level priced at 240. From here, we are targeting the price of 276. Market is in a bullish trend with the formation of higher highs and higher lows. Once the market taps the support level, we anticipate another bullish impulse towards the upper side.

The ascending trendline has broken out for sells but was unable to divert the bias towards the bearish side. Therefore, the market is still bullish and continuing its journey upwards.

The retracement level of 61.8% is in confluence with the support level which gives us an edge.

The EMA 50 is still bearish and has been ranging since previous days. Once the prices start to tap towards the bullish side, we may see a breakout of the EMA 50.

RSI is at 50. It is at the premium level for buys in order to continue going up. But, we have to wait for the support levle on the chart and then align the oscillator with it, which might happen at the over sold region.

Tesla buys from 240

Sep 29 2023