TSLA rallied off 203.50 (April 17, 2015 higher low), following a 7-1/2 month falling trendline break as shown on the daily chart, to return above the 200 day moving average, posting new 2-1/2 month highs. Bullish MACD suggests there is scope for further upside towards the 225.48 resistance level (February 5, 2015 lower high). Clearing there would accelerate the upleg towards 236.65 (October 1, 2014 swing low), near 50% of the 291.42/181.40 fall. On a pullback, the immediate support level lies at 211.69 (April 22, 2015 low). Beneath rests the key 203.50 support which should hold dips.
Outlook:
Short term: Buy on pullbacks
Long term: Bullish
Outlook:
Short term: Buy on pullbacks
Long term: Bullish