TESLA formed the new bottom and is going for $600.

Tesla / TSLA is on the 2nd straight green 1week candle, crossing above the 1week MA50.

With the 1week RSI bouncing on the 2 year Rising Support, the Channel Up has technically formed its new bottom.

Both the current and the previous one were formed on the 0.618 Fibonacci retracement level after a -55% decline.

If the bullish wave is also as similar as the bearish waves have been, the price should reach as high as the -0.382 Fib extension.

Buy and target the top of the Channel Up at $600.

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