Hello, Tesla investors!
Tesla stock has gained good momentum recently, breaking the downtrend and rising to $362. This rise has been fueled by investor interest in Elon Musk's full-time return to the company's helm and the upcoming Robotaxi launch.
Technically speaking, the stock has formed a "double bottom" (W) pattern, and its target, $362, has been reached. However, we are now facing strong resistance at this level. If this resistance level is not surpassed with sufficient trading volume, we may see a short-term pullback.
The possibility of a short-term correction increases, especially with the RSI indicator approaching the overbought zone.
The $335 and $290 regions stand out as support levels. These levels are important to watch for possible pullbacks.
In summary, Tesla stock is in an important resistance zone. Breaking through this level with high volume could signal the start of a new uptrend. Otherwise, we may face a short-term correction. Consider these levels and technical indicators when making investment decisions.
Tesla stock has gained good momentum recently, breaking the downtrend and rising to $362. This rise has been fueled by investor interest in Elon Musk's full-time return to the company's helm and the upcoming Robotaxi launch.
Technically speaking, the stock has formed a "double bottom" (W) pattern, and its target, $362, has been reached. However, we are now facing strong resistance at this level. If this resistance level is not surpassed with sufficient trading volume, we may see a short-term pullback.
The possibility of a short-term correction increases, especially with the RSI indicator approaching the overbought zone.
The $335 and $290 regions stand out as support levels. These levels are important to watch for possible pullbacks.
In summary, Tesla stock is in an important resistance zone. Breaking through this level with high volume could signal the start of a new uptrend. Otherwise, we may face a short-term correction. Consider these levels and technical indicators when making investment decisions.
Trade active
Everything is in its normal course.Trade closed: target reached
We had previously stated that Tesla had reached a strong resistance zone and would fall if it could not overcome this zone. This also came true. I think the fight between Trump and Elon Musk will be beneficial for Tesla in the long run. because as Elon musk becomes a political figure and moves away from his businessman identity, this will hurt his companies in the long run
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.