Yesterday, Tesla Motors Inc. (NASDAQ:TSLA) flashed a buy signal at $229.78. This put all three Trade Triangles in a positive trend.
The RSI indicator moved over the 50 level, which is also another strong confirmation. I view that action as the continuation of a strong upward trend for Tesla.
CHART LEGEND
1. Long-term positive trend line
2. All Trade Triangles are positive
3. Weekly buy Trade Triangle yesterday
4. The RSI indicator is now over 50
5. Upside target zone of $300
Technically, I can see Tesla Motors Inc. (NASDAQ:TSLA) moving to the $300 range. Look for near-term resistance around the $240 and $260 levels.
Every Success,
Adam Hewison
President, INO.com
Co-Creator, MarketClub
Well it will be interesting to watch especially with earnings due out on 7/31. My own analysis has it still in corrective mode before a push higher. http://youtu.be/vJJBIAWB_R8?list=UUtTn6Xa2JOsQVxOS_jI7nuQ - Joe