Tesla - what to do?

Tesla is very close to reach $380, a level which has served as a very strong resistance on four different occasions in around a year and a half.

RSI and Stockhastic are also showing overbought levels and thus it is very tempting to go short once again on these levels.

I would however recommend caution though since as we can see from the chart, the prices are currently on the extreme part of the Bollinger band which suggest a very high level of volatility. Should the price go above the ‘psychological’ level of $400, it might then be opportunistic to go Long as we might establish a new trading range from $400 onwards.

What do you think?

 

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