Tesla has been printing a bullish structure with the formation of higher highs and higher lows. The trend is bullish and there is a continuation towards the resistance level. Tesla is a stong contender for the bullish move. Therefore, despite the company earning positive ROI's, the stock price is going to surge. It should be noted, that a double bottom is being formed.

The descending trendline is yet to breakout for the buys and then continue moving up. This will enhance the probability for the market to scale it up further.

There is no retracement level in this setup.

EMA 50 is still bullish and the market tends to move further up towards the resistance level.

RSI is at 54. It needs to neutralize at the 50 level in order to align with the technical factors for the continuation upwards.

Tesla buys from 233

Nov 23 2023

Stop Loss -4.82%

Holding time 29d22hr

231.24

Entry price

220.09

Stop loss price