Tesla closed yesterday just below the resistance at around 237.40.
However, an agreement with GM made public after the Exchanged closed regarding charging stations send the share price higher in after-hours trading.
Pre-market Tesla is indicated to open around 250 as indicated on the daily chart.
That is just below next key resistance at 254.50. 254.50 is also the lower level of the Gap area back from October 2022. The upper level is 265.25.
That area is a strong resistance area where from a correction could be seen. The RSI already above 80 as of close yesterday there by in overbought territory, will be even more in to overbought territory with a higher share price close today Friday.
That is indicating the uptrend is quite stretched short-term supporting the view of a correction in the coming week.
However, it would require a close below 195.10 to demolish the bullish trend short-term and put it on pause.
Medium-term weekly chart: If Tesla closes at current price levels or higher this week, which seems likely, the RSI is back above 60 supporting higher Tesla share price.
If closing above the gap area i.e., closing above 265.25 there is room up to resistance at around 313.60.
It is quite likely however, Tesla will experience a correction before managing to close above the Gap area i.e., closing above 265.25.
To reverse the medium-term bullish trend a close below 152.35 is needed