Tesla Stock Technical Analysis: Tesla stock is trading in a weak uptrend today, having retreated from its all-time high of $259 per share to a low of $251, and is currently trading at $254 per share. These moves indicate instability in the stock’s performance.
Tesla Stock Technical Analysis Technical Analysis:
The price action shows that the stock is trading below the moving averages, reflecting the weakness of the upside. The MACD indicator is also showing a weak positive trend, which enhances the chances of a downside.
Forward Outlook:
If the selling pressure continues, we may see further price declines. Any signs of a change in momentum or a trend reversal should be monitored, as there may be opportunities to trade in the opposite direction.
Trading strategies based on Buy/Sell levels
Tesla Stock | In case of buying | in case of selling |
Entry point | 259 | 244 |
Target Point 1 (TP1) | First resistance: 268 | First support: 238 |
Target Point 2 (TP2) | Second resistance: 274 | Second support: 234 |
Stop Loss (SL) | 244 | 259 |
Tesla stock appears to be in a volatile position, with signs of a weakening uptrend and negative potential for further decline. It is important to follow future developments carefully, as they can significantly impact the stock’s movements.