Monitoring Tesla Stock Price Levels Following Recent Surge in Value

Money | July 8, 2024, 12:33 a.m.

Tesla shares saw a remarkable 27% surge last week, driven by strong second-quarter delivery numbers and excitement surrounding the upcoming Robotaxi Day event. The stock closed above key moving averages and a downtrend line on significant trading volume, signaling strong investor interest. Analysts are keeping an eye on resistance levels at $299.29, $384.29, and $414.50, with potential support around $205. Technical indicators suggest a bullish trend, with the stock breaking out above key chart levels. If Tesla continues to climb, it could face resistance at previous highs before attempting to set a new all-time high. In case of a pullback, investors may look for support around $205. Overall, Tesla's recent performance and upcoming events have put the stock in the spotlight, with technical analysis pointing towards further upside potential.