TSLA - BULLISH Pattern With Analysis
TSLA has seen an incredible rally for the past month. The question is: Will it hold? Bullish and Bearish analysis below:Bullish
We see a nice descending broadening wedge while momentum looks to be strong as we approach the upper resistance trendline to signal a potential break to the upside.
Bearish
RSI is currently at overbought levels. The trendline that price is currently at is a strong resistance level which means there's a good chance that we will face strong price rejection even if it doesn't pull us all the way back to the bottom of the channel.
Verdict
As with all trades, we will look to enter only when price breaks out of the descending broadening wedge.
Happy Trading
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