Tesla to $1700? Hey Traders,
As you can see on the Daily Line Chart of Tesla (TSLA). The price action has formed a Descending Broadening Megaphone/ Wedge which is a Bullish Pattern. Now in fundamental terms, I think this is impossible at the moment because Tesla already has such a big market cap but in technical terms, this looks like it could happen. Tesla is a company mainly based on fundamental terms, so that's why various short sellers pick it unaware it defies bearish technical analysis. However, on the Bearish side, the MACD on the weekly looks like it will revert to red bearish histograms, foreshadowing maybe a correction.
But, I highly doubt it will hit $1700 in 3 years.
Safe Trading,
-Pulkanator
