TSLA, new CONSOLIDATION RANGE forming?

I love this chart of TSLA. We broke out of a huge consolidation range between 2013 - 2017, between basically 180 and 300$.

After that break out, we rocketed to 400$.

Now we're pulling back. This has formed a new range with clear support and resistance levels. That's what we love.

Support (former resistance of old range) - around 300
New Resistance (all time highs) - around 400

If we use history as a guide, then we could bounce around these levels for a while. One thing I am sure, is that we should be buying any dips to that 300 support level. Until we break back below 300 convincingly into that old range, then I expect we will at a minimum see those 400 highs again.

BEST CASE:
We just pullback once and break out to new highs on the first retest of 400, breaking through resistance and heading up towards 500.

WORST CASE:
We break back down below that old resistance, which becomes new support of 300, and that means look out below, crash coming back down to 180$ in the cards.

THE PLAY?
Play the range, buy dips at 300 and sell at 400 resistance. But if price behaves well at that 400 level, it could break out and we want to be watching the 200 day, RSI and other indicators for strength.

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I keep my analysis simple. Good analysis always is.
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