Tesla - Weekly

Tesla is up over 6% as the EV maker has beat quarterly deliveries.

Tesla is up over 6% on the day as the EV maker has beat its quarterly deliveries. Its stock price is now trading at around $278.84 a share. We can see that there was a clear breakout from the ascending triangle towards the upside, in the week commencing 5^th of June, and the bias still remains bullish. Now the price is approaching the resistance at $279.54, a break above this level could see the price climb higher with the next resistance point at $313.76. Last seen in September last year. Towards the downside, support sits at $265.76 then at $238.54 and then the previous resistance of $218.86, which is now acting as support. Looking at the technical indicators, the MACD is positive and the RSI is also positive as it reads 69.