Tesla has been a super bullish stock since the earnings report were published positive and higher than expected. Therefore, we are looking to go long on the pair from the price of 232. This are of support can act as a catalyst for the purpose of another bullish impulsive leg upwards. The market has already formed higher highs and higher lows which means the trend is bullish. 

The ascending trendline has been broken out for sells but the structure is still bullish. Therefore, we are going to continue to keep on buying from the support level. 

The fibonacci retracement is merely at the 75% which requires the confluence with the support level for continuation upwards.

EMA 50 is bearish right now but on another impulsive leg upwards the EMA 50 can be broken out for buys.

RSI is at 40. It needs to scale itself towards the over sold region to form a bearish divergence to continue moving up.

Buy Tesla from 232

Jan 04 2024

Stop Loss -4.48%

Holding time 1d0hr

230.67

Entry price

220.34

Stop loss price