$TSLA — Bullish Falling Wedge Pattern
$Tesla Motors(TSLA)$ — Bullish Falling Wedge Pattern
Tesla has shown relative strength since March 3, continuing to trade within a tightening range inside a 3-month falling wedge from mid Dec all-time-high. It’s also been 6 weeks since $TSLA last traded a session with volume above its 50-day average.
Price is now compressing into a 6% range with the major MAs (20/50/200) converging. If price can hold above the 200-MA while the 50-MA continues drifting lower toward the wedge apex, it could create an explosive short term price move from the confluence of a wedge breakout and MA recapture within a similar price zone.
Market Cap $1.4T | ADR: 2.9% | Avg $ Volume: $24B
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