TSLA is trading at a potential bullish double bottom which could bounce off its 4 year support level around the mid 160s. If it bounces on the weekly, look for a continued bull trend. By applying a Fib extension, look for a price objective potential of hitting $504.51 and $753.38 in the foreseeable future from a technical setup. TSLA is currently in a 4 year consolidation period, watch for a breakout to all time highs if it takes out the 260s after a potential double bottom reversal.
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Today price movement has substantiated the DOUBLE bottom.
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Close above $180 @ 20EMA this week and it will fill the $187 GAP very quickly.
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That bullish Double Bottom still holding strong.
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Today marked a bullish triple bottom.
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Heading to fill the gap at 187, then next gap target is at 207
If we are to follow chart pattern recognition, this makes sense. However, that price movement is a lot. It's going to take a lot of buyers to push that up to that zone. It's expected but I don't think it's soon