If you are bullish on Tesla, this is what you must note
However, a move above $240 should technically see price higher towards $265 -$270.
A move above $240 could technically push the price higher, toward the $265-$270 range. Last Friday’s close at $269 now places the price within this anticipated resistance zone.
1. The breakout above $240 resistance was accompanied by higher volume, indicating strong buyer demand.
2. The gap from $220 to $240, created by the lukewarm Robotaxi announcement, has now closed. Fundamentally, this suggests that investors have currently moved past the Robotaxi news.
What to watch now?
Price is approaching a recent high of $271, with Asia trading slightly above last Friday’s close, at the current $271 level. Will this resistance be broken?
– Even if price doesn’t break through initially, consolidation near the upper zone (around $265-$276) would indicate strong underlying momentum.
Another potential resistance exists near $278, a recent high.
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This advertisement has not been reviewed by the Monetary Authority of Singapore. This post is sponsored by Societe Generale, Singapore Branch. The content of this article does not form part of any offer or invitation to buy or sell any daily leverage certificates (the “DLCs”), and nothing herein should be considered as financial advice or recommendation. The price may rise and fall in value rapidly and holders may lose all of their investment. Any past performance is not indicative of future performance. Investments in DLCs carry significant risks, please see dlc.socgen.com for further information and relevant risks. The DLCs are for specified investment products (SIP) qualified investors only.
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