S&P 500
1927.11
-14.17 -0.73%
Dow Indu
16461.32
-153.49 -0.92%
Nasdaq
4383.10
-36.38 -0.82%
Crude Oil
80.37
-2.12 -2.57%
Gold
1241.340
-6.810 -0.55%
Euro
1.264250
-0.007965 -0.63%
US Dollar
85.755
+0.358 +0.46%
Weak

Time To Buy Tesla

Yesterday, Tesla Motors Inc. (NASDAQ:TSLA) flashed a buy signal at $229.78. This put all three Trade Triangles in a positive trend.

The RSI indicator moved over the 50 level, which is also another strong confirmation. I view that action as the continuation of a strong upward trend for Tesla.

CHART LEGEND
1. Long-term positive trend line
2. All Trade Triangles are positive
3. Weekly buy Trade Triangle yesterday
4. The RSI indicator is now over 50
5. Upside target zone of $300

Technically, I can see Tesla Motors Inc. (NASDAQ:TSLA) moving to the $300 range. Look for near-term resistance around the $240 and $260 levels.

Every Success,
Adam Hewison
President, INO.com
Co-Creator, MarketClub

Comments

  1. Joe Hentges says:

    Well it will be interesting to watch especially with earnings due out on 7/31. My own analysis has it still in corrective mode before a push higher. http://youtu.be/vJJBIAWB_R8?list=UUtTn6Xa2JOsQVxOS_jI7nuQ - Joe

© Copyright INO.com, Inc. All Rights Reserved.