Bullish Reversal Swing: After entering the year bearish, TSLA found support just above 140. It then gained almost 100% in under 2 months, to 269. This swing broke above a projected falling resistance, and suggests a bullish reversal.TSLA Daily Chart 7/11(click to enlarge)Fibonacci Retracement: The V-shape reversal swing stalled at 269 (but we saw a more common resistance around 260). We saw a bearish correction that came down to 190, around the 61.8% Fibonacci retracement level. The fact that the market supported TSLA here and pushed it back above 200 suggests bulls are now in charge. Consolidation Resistance: The bounce from 61.8% retracement pushed TSLA to the projected falling resistance seen in the daily chart. Bullish Breakout Scenario: A break above this resistance could open up a bullish continuation scenario first towards the 269 high, with the 291.50, 2014-high in sight as well. Note that this is also the all-time high for TSLA.Fundamentals: Tesla has been struggling with publicity recently. We know it has been struggling with deliveries. More recently, we also saw an auto-piloted Model X get in a fatal accident. It's acquisition of SolarCity has been questioned. But Elon Musk is still creating some excitement for Tesla. He tweeted that he was working on a 2nd Master Plan and would reveal it this week. The 1st master plan was revealed in 2006, and it essentially said this: Build sports carUse that money to build an affordable carUse that money to build an even more affordable carWhile doing above, also provide zero emission electric power generation options(streetinsider.com)Limited Bullish Outlook: I think the fundamentals are still shaky, and whatever bullish momentum it has in the short-term will be limited. Therefore, I think the bullish outlook should first be limited to 260, with 290 being the most aggressive target. Essentially, we should take profit around 260, and only leave a very small portion if we want to take some more risk with 290 as the target.