Tesla

TESLA

From a technical perspective, Tesla has room to run. On the daily chart, we see a clear bullflag pattern is emerging.

The stochastic RSI is ticking up above 20, volatility is below 50, and the bullish cloud continues to expand indicating a continued uptrend and strong support.

The 1 and 4 hour timeframes are overbought. However, there are divergences forming on the 5m and 15m and if the divergences continue over, the overbought 1 and 4 hr will diverge, further reinforcing the case for a break above the flag.

Penafian