Tesla nearing critical levels - Trump effect still on?
In this article, I’ll like to review $Tesla (TSLA.US)$ Chart based on its historical Levels and Support/Resistance.
Historical Levels:
1. Previous Highs (2022): $413.49 $402.83 $384.29 $364.07 These represent significant levels where the price previously peaked, now acting as potential resistance zones.
2. Recent Resistance: Near $357–358, the stock is approaching a critical zone, coinciding with earlier highs.
3. Support Zone: Near-term support is marked at $313, providing a key level to monitor if the price retraces further.
– The price is nearing the $358 resistance, a level aligned with prior highs. A break above this could signal a continuation of the uptrend, but failure to breach may result in consolidation or reversal.
– Support: The $313 level serves as a strong near-term support. If breached, it could lead to a deeper pullback. Conversely, holding this level would keep bullish momentum intact.
– Key Observations: Investors might use the previously marked levels ($400–$413) as reference points for long-term resistance. The chart shows Tesla's ability to test critical historical levels, making these zones vital for understanding market sentiment.
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Disclaimer:
This document is not an offer or solicitation to buy or sell, nor financial advice or recommendation for any investment product. This document has been published for general circulation only.
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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