Tesla may rise to 289.50 - 301.80

226.7 is our pivot point.

Our preference

The upside prevails as long as 226.7 is support.

Alternative scenario

The downside breakout of 226.7 would call for 206.8 and 194.9.

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 above its signal line and positive. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 193.7575 and 183.5646). Finally, Tesla is trading above its upper Bollinger band (standing at 240.67).

Supports and resistances

313.9 **

301.8 *

289.5 **

277.1

251.52 (USD-last)

234.7

226.7 **

206.8 *

194.9 **

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