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.
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.