$Tesla Motors(TSLA)$
My target for this chart is $285
On the top left corner of the chart you can see I highlighted my indicators, one in yellow = The Banana325SMA, one in green the 50SMA. I believe this is where the majority of the technical work is being done It’s not me… it’s the market showing you firstly on the left side of the chart that price built a base and considered the Banana325SMA a key point of interest and an area of support. After that base was built at the B325 you can see price ran all the way to $475 Now we have built even a BIGGER BASE … “The longer the BASE, the higher the SPACE”
Some of the clues that show me that it is ready to go is that RSI has hit an extreme low and has been uptrending since with higher lows and RSI broke above its key previous pivots as well MACD is still holding its bullish cross and pointing towards the zero line I believe the 50SMA will act as a magnet for price and I also believe that it will flatten out the slope of the 50SMA which will be a “tell” or clue that it’s ready to turn it from resistance to support, and once it becomes support then it’s ready for 100SMA test which approximately sits around $340 a share , but first things first
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