Tesla may rise to 286.60 - 299.30

Our pivot point stands at 218.3.

Our preference

The upside prevails as long as 218.3 is support.

Alternative scenario

The downside breakout of 218.3 would call for 198.2 and 186.2.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 189.9315 and 181.4278). Finally, Tesla has crossed above its upper daily Bollinger band (228.8).

Supports and resistances

311.9 **

299.3 *

286.6 **

273.7

246.39 (USD-last)

226.3

218.3 **

198.2 *

186.2 **

Number of asterisks represents the strength of support and resistance levels.