Tesla Stock Technical Analysis: Tesla stock is trading in a downtrend today, with a consolidation zone appearing. The stock recorded a high of $219 and a low of $214, and is currently at $215.
Tesla Stock Technical Analysis Trend Analysis:
The downtrend is evident from the chart, as prices appear to be trading below the moving averages, reinforcing the negative trend.
Technical Analysis:
- Moving averages: confirm that prices are below their levels, which supports the downtrend.
- MACD: indicates a negative trend, but there are signs of weakening downward momentum, which may open the way for a potential rebound.
Trading Expectations:
If the downward pressure continues, the stock may head towards key support levels at $214. In the event of a rebound, it may head towards $218.
Trading strategies based on Buy/Sell levels
Tesla Stock | In case of buying | in case of selling |
Entry point | 222 | 211 |
Target Point 1 (TP1) | First resistance: 225 | First support: 205 |
Target Point 2 (TP2) | Second resistance: 230 | Second support: 193 |
Stop Loss (SL) | 211 | 222 |
Tesla stock is showing a downtrend with a consolidation zone. It is advisable to monitor any economic developments or company-specific events that may affect the stock’s movement in the upcoming sessions.