Tesla's technical analysis

Source: Dukascopy Bank SA
Tesla's stock is currently in a consolidation phase, trading within a narrowing range that has formed a symmetrical triangle. This pattern, combined with the tightening Bollinger Bands, strongly indicates that a significant price move is likely to happen soon. The current market sentiment is neutral as the price coils tighter, waiting for a catalyst. The key levels to watch are the triangle's boundaries. A decisive move above the upper trendline, around the $340 - $345 area, would be a bullish signal, potentially pushing the price first toward the $355 resistance and then possibly to the major resistance at $387.



Conversely, a breakdown below the lower trendline, around $315 - $320, would be a bearish signal. This could lead to a drop towards the major support level at approximately $285.83.

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