TSLA seems to be forming a local bottom before moving higher. The current path was projected over 2 weeks ago and is still intact.
The weekly and 3-day candles signal that the bullish odds are higher.
The 3-day candles formed a bullish Harami combo. If it is confirmed in the next 3 days, the trend will reverse. The weekly candle is likely a bullish Hammer; several technical indicators would support the hypothesis.
If TSLA confirms the bullish combos next week, expect a rally towards $1170-1220 (19%-25% from the current level) in the next several months.
This quick update is a part of the Weekly Series – US and global indices, Cryptocurrencies, Commodities, Currency, and Large Cap stocks – that can be viewed here.