Tesla's (TSLA) meteoric rise from June this year has sent it to all-time highs, as shown on the following monthly chart...and has resulted in a 119.67% gain since then, as shown on the next graph. It's been heavily favoured above the FAANGs.
Based on the trajectory of the Andrew's Pitchfork formation, its next major resistance lies around the 450 level.
The Balance of Power lies firmly with buyers and is approaching an all-time high. Watch for that to continue on this longer-term timeframe to support a further rally.
On a shorter daily timeframe, as long as the RSI, MACD and PMO technical indicators continue to rise, watch for further buying to, potentially, push the price to 450. However, as these indicators are approaching a retest of prior highs, we may see the buying slow or consolidate for awhile, before resuming a trek to that target.
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Fri. Oct. 2 @ 8:30 am ET ~ Employment Data
* Wed. Oct. 7 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Tues. Oct. 13 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. Oct. 14 @ 2:00 pm ET ~ Beige Book Report
* Fri. Oct. 16 @ 8:30 am ET ~ Core Retail Sales & Retail Sales
* Thurs. Nov. 5 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
* Wed. Dec. 16 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
*** Click here for link to Economic Calendars for all upcoming events