Wednesday, 22 April 2015

TSLA - the down trend has ended

Whilst the broader market saw moderate gains, there was notable strength in Tesla (TSLA), which settled higher by a very significant 4.8% @ $219.52. Even more important though, the down trend/resistance from Sept'2014 has been decisively broken... and near/mid term outlook is now bullish.

TSLA, daily


Suffice to say... a clear break of the down trend... having built a bull flag across the previous ten trading days.

Upside targets...

Initial.. 200dma @ $226
Primary $250
Secondary: Sept' high of $291... although this looks out of range for some months.