Chart of the day

TSLA is reaching the strong upside resistance of 300 and is reversing lower from the strong upside wedge resistance and a downtrend channel resistance. A confirmed break above will open the strong upside reversal and completely change the direction by invalidating the downside. This is also a Fibonacci 61.8% retracement of the latest November 2021 to February 2023 swing down.

Rejection and a break below 284 could confirm that the ABC correction in the fourth wave pullback has been finished. Support for the upside is 284 and it is not excluded that a bounce from here would lead again to a test of 300 but a break below would open a strong downside reversal in the fifth long-term wave.

Long trades, you can open upon a break above 300. For the short trades, if you are more inclined to risk you can open here with a stop loss just above 300 targeting a swing low of 258. If not wait for a break below 285 to enter the short trade.