If you are bullish on Tesla, this is what you must note
Earlier in this post, I wrote that $Tesla Motors(TSLA)$ :
However, a move above $240 should technically see price higher towards $265 -$270.
A move above $240 could technically push the price higher, toward the $265-$270 range. Last Friday’s close at $269 now places the price within this anticipated resistance zone.
Here are two positive signs for TESLA :
1. The breakout above $240 resistance was accompanied by higher volume, indicating strong buyer demand.
2. The gap from $220 to $240, created by the lukewarm Robotaxi announcement, has now closed. Fundamentally, this suggests that investors have currently moved past the Robotaxi news.
What to watch now?
Price is approaching a recent high of $271, with Asia trading slightly above last Friday’s close, at the current $271 level. Will this resistance be broken?
– Even if price doesn’t break through initially, consolidation near the upper zone (around $265-$276) would indicate strong underlying momentum.
Another potential resistance exists near $278, a recent high.
If hedging existing long Tesla position, then Daily Short DLCS $TESLA 3xShortSG261006(TSXW.SI)$ to profit if Tesla moves down.
If tap on Tesla bullish momentum, then Daily Long DLCs $TESLA 3xLongSG261006(TSYW.SI)$ to profit if Tesla moves up more.
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