Chart of the day

Where do we stand fundamentally?

TSLA car sales improved in Europe which can lead to much better results when the quarterly report is published. Also, EV car sales in the USA are expected to increase in the future.

TSLA is supported by the 198 level of an uptrend line for a ride to the 360 targets within the third upside long-term wave and to complete a complex consolidation in the second wave. We need to see a break above 230 for the upside continuation in the third upside wave to happen and gain traction.

An invalidation level of a third-wave long-term extension higher and a bullish cycle is 180. As said this extension higher could lead to 360 and 500 targets in the medium-term to long-term if we get a confirmed break above 230.

_{Try a long trade entry with a stop loss below 190 to target 360 and higher upon a break above 230.}