hi I'm Marcus from millox news don't forget to give this video a like subscribe to the channel and activate the Bell welcome to your daily Tesla report for Monday June 6 2023 let's dive right into it last week Tesla ended above a long-term Channel Peak that was nearly two years in the making this is a crucial development as it suggests that the stock can withstand yearly selling pressures and we can anticipate sustained gains in the upcoming months this bullish trend is not exclusive to Tesla as similar buy signals have been posted by other major entities such as apple and Nvidia in recent weeks examining Tesla's chart I'm maintaining my stance on 221.25 as a level of session containment if we conclude Above This level today we should witness the stock hitting 233 within the week however remaining above the long-term Channel peak of 206.01 will keep the mid Band Of The Rising Channel structure at 239.39 as a target for the next two to three weeks if we settle above 233.33 in the upcoming week 200 and 39.39 is likely within an additional three to five days our next major goal is the rising Channel Peak at 268.29 which is a target for the next two to three months if we Retreat back into the 206.01 area over the fourth coming days that would be an opportunity to purchase at a more favorable price I would suggest considering out of the money calls in the 268 to 275 range that don't expire for at least six months regarding potential signs of weakness I don't foresee any unless we conclude this week back below 206.01 if we do conclude below this level it would indicate a longer term bullish continuation however we also have a daily speed line that is defining the trend and is respectable in its own right as we progress into the later part of the week this Speed Line will converge with 206.01 and it will become a range of support that is a prime territory for bottom picking as we move into July and August raid in terms of the broader picture if we conclude back below 206.01 by one percent margin on Friday I believe we're preparing for a Target in the low to mid on 50s however we're back into the day itself and I can just point to the far right here and mention 221 points of five as a reasonable day resistance capable of containing session string below it we can drop to 213.77 which is capable of containing intraday selling we could trade between those two points for a significant part of the day if we conclude below 213.77 206.01 is likely tomorrow if we conclude above 221.25 233.33 is likely within a few days that concludes today's Tesla analysis I'll return tomorrow with more updates don't forget to like subscribe and share and visit our channel for more videos
