Although TSLA is per I.I.’s definition still in a down trend, the daily chart starts to show an impulse wave up, which has either completed already (red intermediate i and ii) or is still underway (green minor 3? and 4?). Either way, this start to look good for the TSLA bulls.
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Also, the weekly chart starts to look better, with last week giving a first MACD buy-crossover since September last year (!) when it gave a sell, and has remained in sell since. All other TIs are pointing up too. In addition there’s nice positive divergence on the RSI5 low between the January price low and the March lower price low. With the bollinger bands tightening we can be sure a big move is coming up. Well, earnings are due May 6… Get ready IMHO. However, price does need to get back above the 50w SMA. It has regained the 20w SMA and is finding support there. Once it can get above the 50w SMA, then the $280 is next logical target, with the R1 level shortly there after. Once reached, we’ll reassess the charts though I wouldn’t be surprised in R2 at $370 will be reached for Primary I.