On September 27th our analysis on TSLA stock price was bullish. Price was then breaking important resistance levels and we noted that a new bullish signal was given. Price since then has reacted exactly as bulls would want.
Blue line -support trend line
TSLA stock price has risen 15% since the day of the break out. Price remains in a bullish trend making higher highs and higher lows. The RSI in the Daily chart has reached overbought levels. At least a short-term pull back is justified from current levels. Bulls should not be greedy. Bulls should take partial profits, although there are high chances this trend continues, a short-term pull back is expected over the next few days. Trend remains bullish as long as price holds above the blue trend line.
