Main to remember
- Tesla’s actions gained ground in prolonged exchanges on Wednesday while optimism on the autonomous prospects of the car manufacturer attenuated the results of the fourth quarter that came below Wall Street expectations.
- The price seems to be fixed on the gap above the higher trend line of a flag model Thursday in a decision that could resume the momentum up of the action.
- The analysis of bar models, which takes the movement of stock trends from October to December and the superimposition of the lower trend line of the flag model, projects a longer -term bullish lens of about $ 790.
- Investors must monitor the main levels of support on Tesla’s table around $ 360, $ 300 and $ 265.
Tesla’s actions (TSLA) gained ground in prolonged exchanges on Wednesday while optimism on the autonomous driving prospects of the car manufacturer prevented the results of the fourth quarter that came below Wall Street expectations.
The CEO, Elon Musk, told investors at the conference call on the results that the complete autonomous technology of the company continues to make significant breakthroughs. Among other developments, Musk said that the company planned to start using the unsupervised version of autonomous software with Tesla vehicles at the Austin factory, Texas of the Company, from June, with a Plus Public Press release Large possible this year.
Tesla said she expects vehicle sales, which dropped in 2024, for the first time, come back to growth this year. The company also declared that its plans for a more affordable model were always on the right track to enter production in the first half, although no official announcement was made on what Tesla is more affordable.
Tesla’s shares increased by 4% to around $ 405 in exchange after opening hours, after dropping by more than 2% during the regular session. The stock has more than doubled in the past 12 months, a large part of this upcoming gain since the presidential election at the beginning of the beginning of November in the hope that the close ties of Musk with President Donald Trump will directly benefit to the car manufacturer.
Below, we take a closer look at Tesla’s table and apply a technical analysis to identify the crucial price levels that deserve to be monitored.
Flag model in the focus
Since reached a record last month, Tesla’s actions have consolidated in a flag, a bullish graphic model which indicates a brief break in the upward trend before another movement. Indeed, the price seems to be set out above the superior trend of the model Thursday in a decision that could resume the momentum upwards.
Investors should also monitor an increase in the volume of exchanges, which has been down constant throughout the recent flag model.
Let us analyze Tesla’s graphic to identify a longer -term bullish target and also highlight several major levels of support to monitor during possible retractions.
Bullish price objective to monitor
To project an optimistic target, investors can use the Bars model tool, which analyzes previous trends on the graph to predict what a future movement might look like.
When applying the TESLA actions, we take the trendy movement of action from October to December and overlap it from the lower trend line of the flag model. This predicts a target of around $ 790, a location on the closing price of double Wednesday where investors can decide to lock the profits.
We have selected this previous trend because it has followed a period of previous consolidation of duration similar to the current flag model of the action.
Major support levels to monitor
During the decreases, investors should initially look at the level of $ 360, a location where actions could find support nearly two minor peaks that were formed on the graph in November.
The sale below this level could see a more substantial fall at around $ 300. This area on the graph can arouse purchase interests near the physiological round number and the swing of July 2023 in July 2023, which marked the stock record until the draw last November.
Finally, the additional sale opens the door to a drop in $ 265. Investors can seek to accumulate actions of this region, given that it finds a confluence of support for the sloping Mobile Mobile of 200 days ascending and a trend line which connects several peaks on the graphic which dates back to October 2023.
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