$TSLA has given a nice consolidation above the 0.5 Fib and the 50 Day MA, which we love to see because it is a strong confluence level and has now started to drift higher but has not made a higher high next to confirm that this is moving in an impulse manner and can break above the 200 Day MA at $207.
Bulls should feel happy though with the hold of support and how this is setting up, I am still leaning on the side of the bulls taking control here and making another attempt at breaking out of this wedge at $220, until then though, there is still risk on the table.
fahad khan
2024-06-25 18:47:57 +0000 UTC