Tesla Stock Technical Analysis: Weak Upside

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.

Tesla Stock Technical Analysis

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.

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