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Tightly Coiled Bull Pennant Forming in EV Leader Near Inflection Point

by | Jun 6, 2024

Tesla (TSLA) shares are hitting the Ready to Run scan for the first time in recent memory as prices have remained above the 55-day MA the past several weeks after clearing above it last month on the large gap higher and since then held the key 170-175 zone on several tests. TSLA has formed a tightly coiled Bollinger band squeeze pattern inside its value area and is poised to make a big move into the next few weeks with its shareholder meeting coming next week on 6/13 is widely expected to have the Musk pay package approved which could help the stock resolve higher and surge through the 185 YTD VWAP resistance on the way to 200.

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