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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

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