It has been a rough year for shares of Tesla (TSLA) with the stock trending lower since the December 2023 highs.
However, recent price action has become more positive after seeing price breakout of the most recent descending channel.
Bottomed Out...
Over the past couple months price looks to have carved out a bottom and have formed a bit of a cup and handle pattern potential, especially if we see price consolidation at this 210 area resistance that price failed at today.
Additionally, quarterly earnings are due to be released in a couple weeks and with most of the bad news already out this year could lead to a potential rebound into the announcement.
Should be interesting to watch. 210 is the current resistance level and after that price has a shot at the 240-260 range if it makes a run.
Posted Using InLeo Alpha
Rebound? My friend... it is about to absolutely nosedive once the quarterly delivery numbers come out...
Looks like we got lucky $$$
Dude, I am absolutely shocked with how wrong I was. Less deliveries than this time last year, but because Tesla delivered more than analysts expected the stock is absolutely flying. Shocked.
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