Current trend

Shares of Tesla Inc., a leading manufacturer of electric cars, are growing within the framework of a long-term upward trend. Investors are confident that the return of Donald Trump to the White House will have a positive impact on the company’s performance and the reputation of its head Elon Musk, so they continue to buy the issuer’s shares. Thus, at the end of last month, the quotes reversed from the 250.00 mark (Murrey level [ 1/8]), returned to the main Murrey range and are currently testing 343.75 (Murrey level [3/8]), after consolidation above which it may reach 406.25 (Murrey level [5/8]) and 437.50 (Murrey level [6/8]) area. In case consolidation below the middle line of Bollinger Bands 312.50 (Murrey level [2/8]), a return to the ascending channel and a decline to the area of ​​250.00 (Murrey level [0/8]) and 218.75 (Murrey level [–1/8]) is likely.

Technical indicators confirm the continuation of the upward trend: Bollinger Bands are directed upward, and the MACD histogram is stable in the positive zone. Stochastic is turning down, not excluding limited correction.

Support and resistance

Resistance levels: 343.75, 406.25, 437.50.

Support levels: 312.50, 250.00, 218.75.

Trading tips

Long positions may be opened above 343.75, with the targets at 406.25, 437.50 and stop loss 312.00. Implementation period: 5–7 days.

Short positions may be opened below 312.50, with the targets at 250.00, 218.75 and stop loss 337.00.