Tesla Stock Technical Analysis: Tesla stock is trading in an uptrend during today’s session, with the buying momentum clearly evident despite some signs of weakness in the strength of the trend. The stock recorded its highest price today at 347 and the lowest price at 335, and is currently trading at 344, indicating a continuation of the upward movement within a positive trading range.
Tesla Stock Technical Analysis: Price Analysis
Tesla stock is currently trading above the moving averages, which supports the short-term upward trend. Continued trading above these averages reflects the strength of the buying momentum and indicates that the upward trend is still valid, which enhances the possibility of continuing the positive movement as long as prices remain above these averages.
Technical Analysis Using Technical Indicators
- Moving Averages: Trading above the moving averages is a strong signal of continued upward momentum. This indicates continued support from buying forces, which enhances the bullish expectations for Tesla stock.
- MACD Indicator: MACD Indicator shows a positive trend, reflecting buying momentum in the market. However, there are some signs of weakness in the trend strength, which could indicate that the bullish momentum is starting to lose some steam. This suggests that a slight price correction or volatility could occur in the short term.
Today’s Trading Outlook
Tesla stock is expected to continue its bullish trend in the short term, with the possibility of testing the resistance levels at 347. If the buying pressure continues, the stock could see further gains towards higher levels. However, watch out for any further signs of weakness in the momentum that could lead to a slight correction.
Trading strategies based on Buy/Sell levels
| Tesla Stock | In case of buying | in case of selling |
| Entry point | 353 | 329 |
| Target Point 1 (TP1) | First resistance: 367 | First support: 319 |
| Target Point 2 (TP2) | Second resistance: 373 | Second support: 315 |
| Stop Loss (SL) | 329 | 353 |
Tesla stock is showing an uptrend supported by technical analysis, trading above the moving averages and the MACD indicator reflects positive strength in the market. However, some signs of weakening bullish momentum should be noted, indicating the possibility of a slight price correction or volatility in the short term.
