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Tesla (TSLA) Forms Bullish Flag Continuation Pattern Above Key Support

Tesla (TSLA) Forms Bullish Flag Continuation Pattern Above Key Support

by | Aug 10, 2022 | Chart SetUps

Tesla (TSLA) shares forming a nice bull flag after pulling back to the YTD VWAP at 850 and brief test of the July high after a strong run higher the past 6 weeks. The stock is seeing a 21 EMA bull cross above the 200 EMA this week showing longer term trend shifting higher and can make an argument for a bigger picture cup with handle taking shape with an explosive weekly chart potentially. Also the 3 for 1 stock split is nearing on 8/25 so potential for a breakout follow through move above 900 and likely target is at 1000 where a naked VPOC from April sits just below. A close under 830 would negate this setup.