Tesla may rise to 201.20 - 206.60

Our pivot point stands at 185.6.

Our preference

The upside prevails as long as 185.6 is support.

Alternative scenario

The downside breakout of 185.6 would call for 182.4 and 179.2.

Comment

The RSI is above 70. It could mean either that prices are 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. Tesla is trading above both its 20 and 50 period moving average (respectively at 191.55 and 188.1).

Supports and resistances

210 **

206.6 *

201.2 **

199

196.775 last

189

185.6 **

182.4 *

179.2 **

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