S&P 500
2067.65
-13.78 -0.66%
Dow Indu
17787.00
-104.16 -0.58%
Nasdaq
4787.51
-30.08 -0.62%
Crude Oil
43.51
-1.27 -2.83%
Gold
1286.765
-4.255 -0.33%
Euro
1.15239
-0.00086 -0.07%
US Dollar
92.767
+0.181 +0.23%
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.