Tesla is in an uptrend and bullish market. The market needs to tap the support level at the price of 249. This is the price of support from where the market can continue moving up. The prices are forming higher highs and higher lows and I anticipate another higher impulse towards the resistance level. We can continue the leg up towards the resistance level.

The descending trendline has broken out for buys and the price is already validating it.

There is no retracement indication in this setup.

EMA 50 is also bullish and the market may tap the support level in confluence with the technical factors.

RSI is at 57. It needs to tap the 50 level in order to neutralize the oscillator and align with the technical factors.

Tesla bullish again

Dec 21 2023