TESLA on a major bullish break-out. Possible $1500 target in Q3.

24 במרץ 2022

Tesla (TSLA) broke this week above the All Time High (ATH) Lower Highs trend-line, giving a strong bullish signal. The pattern is replicating the break-out sequence of June 2021. In fact the whole Peak-Correction Cycle of January - June 2021 is identical to that of November 2021 - March 2022 (so far).

As this 1D chart shows, both patterns bottomed below the 1D MA200 (orange trend-line), with the RSI Double Bottoming around the 30.00 reading. What followed in July - September 2021 after the Lower Highs bullish break-out, was a slow Channel Up that ended violently with a parabolic rally just above the 1.5 Fibonacci extension level. That level is at $1650 from the recent market bottom so we are setting a target zone within $1500 - $1650 by the end of Q3.


* BONUS MATERIAL *

See how well another tech giant, Apple, is performing after our March 11 buy call exactly on the market bottom:

--------------------------------------------------------------------------------------------------------

** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **

--------------------------------------------------------------------------------------------------------