Technical Analysis of the Financial Markets

TSLA Technical Analysis – Where next for Tesla Stock?

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After a dip in price TSLA looks set to rally/consolidate in the next few weeks days as we once again push towards the record highs set on the 23rd June 2017. Whether this will lead towards a further jump or consolidation remains to be seen.

In our previous analysis of Tesla stock here we successfully bought Tesla stock prior to its current resurgence.

We have now entered a critical area for Tesla in that we are approaching the consolidation zone where this stock made record highs.

In the chart above i have highlighted the key selling area for anyone looking for an opportunity to short this stock at a good price. Today we have touched and rested at this zone around the $367 mark. If we do see further upside we should look to bolster our positions as any further rise in price represents good value to short in the medium term.

With stops above the highs around $390 and take profit at the ascending support line or $350.

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