Tesla ST : the RSI is overbought

Our pivot point is at 388.29.

Our preference: the upside prevails as long as 388.29 is support

Alternative scenario: below 388.29, expect 361.08 and 344.88.

Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 356.40 and 335.53). Finally, the Tesla is trading above its upper Bollinger band (standing at 419.54).

Supports and resistances:

512.98 **

496.05 *

479.11 **

462.18

425.86 USD - last

398.98

388.29 **