Tesla Trend Break

By Tim Knight of Slope Of Hope

Managing Partner at Tim Knight Organization • Oct 25, 2024 at 2:05 PM EDT

Tesla broke above its long-term resistance line. In addition, there are a makings of an inverted H&S pattern here, which is bullish.

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Image Source: Unsplash

Well, it finally happened. Tesla (TSLA) broke above its long-term resistance line. In addition, I think there are a makings of an inverted H&S pattern here, which is bullish. Since a certain someone in my life has a ton of this stock, I celebrate the news.

(Click on image to enlarge)

Here’s the longer-term view. I suspect the psychologically-important $300 level will be beckoning at this point and should be easily achieved this year.

(Click on image to enlarge)

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I tilt to the bearish side. Slope of Hope is not, and has never been, a provider of investment advice. So I take absolutely no responsibility for the losses – – or any credit for the gains – – you may or may not make from reading this forum. Whether you lose your life savings or make a fortune is entirely up to you and your own skills/luck/fate.

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