Summary of Does $TSLA Have More Room To Run?
The video discusses the potential for Tesla (TSLA) to continue its upward trend based on technical analysis. The presenter analyzes a chart using Fibonacci levels, noting that the 382 level has become a new floor for Tesla, indicating a new trading range from 382 to 0.5 Fib. Resistance levels are identified at around 258-263, with a possibility of reaching 270. The presenter advises caution against chasing the stock and emphasizes the importance of market structure and making higher highs for a bullish continuation. The Ichimoku cloud and moving averages are also considered as bullish indicators. The video concludes by suggesting that Tesla is in a new trading range until a breakout occurs above the 0.5 level. The presenter recommends waiting for confirmation before making any trading decisions.
Presenters/Source
- YouTube video presenter
Notable Quotes
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Category
Business and Finance