If there’s one stock i don’t mind seeing go crazy-high, it’s Tesla. The only reason is because one of my beloved children works there, and if TSLA does well, it will establish a firm financial foundation for years to come. Having said that, I think a 60% pop in a matter of weeks is pretty goofy, particularly since this morning’s explosive move is predicated on the fact that GM and Ford cars will be permitted to roll up to a Tesla supercharger, pop in an adapter, and juice their car up. Whoop-de-ding-dang-do.
![](https://slopeofhope.com/wp-content/uploads/2023/06/tslasoar-640x858.png)
From a charting perspective, I’ve said repeatedly on my tastylive show that TSLA could have an easy sweep from one Fibonacci pair to another, and that is precisely what is happening. I have tinted the zone of the “double pair”, whose peak is about $260. I’ve also pointed out, by way of those red circles, and series of lower highs that have been established, which are farther and farther apart in time.
![](https://slopeofhope.com/wp-content/uploads/2023/06/tslalimit-640x600.png)
Here is an even longer-term view in which I’ve tinted the overhead supply above the Fibonacci pair. In short, the approach of the major price gap at $262.47 marks, I believe, powerful resistance.
![](https://slopeofhope.com/wp-content/uploads/2023/06/slopechart_TSLA-640x343.jpg)