This beautiful-looking chart is screaming up. Price found support at powerful confluence (38% fib, 50 EMA and bottom of the channel). Price came down in a corrective fashion (An impulsive move should follow).
Price target: Top of channel
Not financial advice.
Tesla broke out of this long-lived triangle and will be heading towards previous highs for the remainder of this year (Santa Clause run). Rate cuts- a 50% chance of a 0.5 basis point as I write this post and Robotaxi Day at the beginning of October should be brilliant catalysts to reach previous highs ($414.50) until the end of this year.
Remember risk happens...
Consolidation below the upper trendline indicates that the price "wants" to go higher. My longer-term target is $390, which is 62% fib extension of the last leg up.
