Tesla price reaches pivotal resistance – Forecast today
Tesla’s stock price (TSLA) rose in latest intraday trading, after piercing the downward correctional trend line previously in the short term, with positive signals from the Stochastic, coupled with positive support due to trading above the 50-day SMA, tackling the pivotal resistance of $291.85, representing the neckline of a positive pattern that formed at the end of the downward wave, the Double Bottom pattern.
Therefore a breach of the pivotal resistance of $291.85 would open the door for more gains, targeting the resistance of $358.65 as a price target for the forming technical pattern.
Today’s price forecast: Bullish
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