Tesla: Bullish Trend | Investing.com
On a weekly timeframe, Tesla (NASDAQ:) is in a bullish trend.
Support And Resistance Levels:
- Support: $888 – $900
- Resistance: $1229 – $1243
From the weekly chart we see that Tesla Stock is in a bullish trend, currently we are in wave 5 of the third major wave.
As we can see from the chart, wave 3 is extended and wave 4 is ended.
According to our analysis: wave 4 is ended and we are now in wave 5 of third major wave
This counting will be invalid if the price exceeds the level of wave C of wave 4 and consequently we will be in front of a bearish trend and a change in the direction
In the daily timeframe, we can see that we have a zigzag wave A-B-C and the correction ended at 886.
We see that wave 2 of wave 5 of the third major wave is about to end.
If the option of wave 5 failed, then we are in front of a triangle that will move sideways for a short time
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.