Tesla has started yet another week on a green opening, making a new 2023 High. The price is approaching Resistance (1) at 315, which is a little over the Falling Resistance from the November 2021 All Time High as well as the 0.786 Fibonacci level. Be prepared for a correction around that juncture.
Trading Plan: 1. Buy on the current market price. 2. Sell on the 0.786 Fibonacci level at 307.
Targets: 1. 307 (0.786 Fibonacci). 2. 245 (0.618 Fibonacci and Rising Support from the market bottom).
Tips: 1. The RSI (1w) just touched the overbought level (70.00). As with the Feb-Apr correction, it technically requires a pull back to the MA line in order to get normalized. That can be an additional buy signal for you.
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