Tesla Stock Would Have to Close Above $225 This Week to Continue the uptrend

Hi guys! As mentioned in my previous post, Tesla's stock price has entered the BUY ZONE of the Fibonnaci. Not the mention that the stock price is currently laying at the support line of the Handle in the Cup and Handle Pattern.

Currently, Tesla stock is experiencing a Sell-Off, which could be determined as a heavy pullback by the Cup and handle strategy. As stated in my headline, Tesla stock would have to break past $225 a share to continue the uptrend next week. The Cup and handle candlestick retest is currently being played out as drawn by the yellow line. It is also backed by the 38.20% level of the fibonnaci.

If, however, Tesla cannot maintain the $220 price level and breaks down the Handle's support line, you can expect the share to retest the 200MA line which is around $200 a share. Fundamental Analysis such as a push back of the FSD 12.5 v update could tumble the stock price down too.

Tomorrow PCE data will be released to the public. PCE data is an important metrics to understand its current economy inflation process. It will be released at 07:00AM (7PM SGT time) around there. So... Thoughts? well.... Datas are something we cannot gamble with. A proper entry would definitely not be entering into any position before any important data is being released.