Stock of the day: Tesla

In today’s analysis, we won’t take up too much of your valuable time. Just a small update about one of the most popular stocks to trade right now – Tesla. We previously mentioned Tesla on the 26^th of August, so not a long time ago. We were bullish at the time, awaiting the movement up north:

“As long as the long-term uptrend line remains intact, the main sentiment is positive and the breakout of the upper line of this giant triangle (red lines) seems more probable.”

The price of Tesla flirted with this resistance for a few days and eventually broke it yesterday. What a great start to the new week! This breakout gives us a proper buy signal. The potential target is on the 777 USD, where we have a fresh crucial horizontal resistance (purple). Chances that we’ll get there are pretty high.