Tesla Stock Price Levels to Watch After Volatile Stretch | Global News Avenue

Tesla (Tesla) shares have risen over the past two sessions after five straight days of losses, with their value down 18%.

The stock touched record high In mid-December, the CEO expressed optimism Elon Musk’s The electric car maker will benefit from a close relationship with President-elect Donald Trump. In 2024, Tesla’s stock price soared by more than 60%, with most of the gains coming after the November 5 election.

After the Christmas holiday, Tesla followed the broader market’s decline, and its stock price plummeted, falling 6% on the first trading day of 2025 last Thursday, when the company’s Fourth quarter vehicle delivery report Performance was weaker than expected. The automaker said its sales in China hit a record last year, boosting confidence that the world’s largest auto market it faces may be recovering, sending shares up 8% the next day. fierce competition from domestic EV competitors.

Tesla shares closed up 0.2% on Monday at $411.05. That’s 16% below the stock’s all-time high reached on Dec. 18.

Next, let’s take a closer look at Tesla’s Weekly chart and identifies important price levels to watch.

Strong uptrend remains unchanged

Although recently pull backTesla shares have surged higher since breaking out of the market ascending triangle After the US election in early November.

also, Relative Strength Index (RSI) Still gives readings around overbought levels, highlighting the stock’s bullish price momentum.

Let’s apply technical analysis to predict the current situation uptrend may expand and identify important support level Investors may be looking for buying opportunities there.

Bar chart analysis

Bullish forecast price target and predict how long it will take trend The move could continue ahead of stocks consolidateinvestors can use the bar pattern tool, which analyzes previous trends to predict future trends.

When applying our analysis to Tesla’s chart, we took the price bars that formed the stock’s strong trend from October 2019 to February 2020 and repositioned them starting with the November breakout. The forecast has a price target of around $745 and suggests that the current move higher could continue into early March if price history matches.

We chose this previous trend move because it started after the weekly breakthrough That’s nearly 30% higher than the previous ascending triangle and very similar to the stock’s current price action.

Important support levels worthy of attention

If the stock continues its pullback from recent highs, investors should first focus on the $370 level, where the stock could find support on the chart. peak The position is slightly below the stock’s high point in early November 2021.

If the price closes below that level, the stock could retest lower support around $300. Investors may be looking to join the long-term uptrend near this area. mental rounds and a trend line connecting the August and July peaks of last year.

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As of the date of this writing, the author did not own any of the securities mentioned.