Shares of Tesla (TSLA) was bullish in February into April but has been in a choppy correction since then as we can see in the daily chart. In December, price action reflects a bullish continuation. Tesla (TSLA) Daily Chart 12/27(click to enlarge)V-Shape Reversal Followed by Choppy Consolidation:- The daily chart shows a very obvious V-shape reversal back in February/March.- This to me a a strong bullish indicator for the medium to long-term.- However, since April price was retreating in a choppy manner. The relative choppiness to the prevailing V-shape rally suggested that this is a period of consolidation. That the dominant mode has become bullish.Bullish Continuation Breakout:- In December, we saw price surge from around 180 to above 200 in a rally that broke above a falling trendline resistance.- The RSI has pushed to 70, and price is above the 100-, and 50-day simple moving averages (SMA), about to test the 200-SMA.- Moreover, price is now challenging the October high, which are the first key resistance pivots above 200. Expecting Pullback:- If the market is bullish, we might not see a strong pullback.- But if we do see resistance around 215, let's anticipate at least a minor 5% pullback.- We should anticipate support at 200.- The RSI should not fall below 40. Targets:- Above 215, the next resistance will be in the 235-240 area. - The high on the year just under 270 will also be in sight as Tesla (TSLA) enteres 2017 on a bullish note,.