Tesla’s stock busts through 50-DMA resistance into bull-market territory
$Tesla (TSLA.US)$ Based on a separate source, if share price rises at above an moving average as resistance, it is an indication that the stock may be overbought. Hence a short term pull back is expected. You should look at other TA indicators before entering a trade. There's also another macroeconomics uncertainty to consider - release of CPI data tomorrow (8:30 am EST or 8:30 pm SGT) that could disrupt the rally. Overall there are sufficient catalysts for Tesla to continue bullish in long term.
Quote:
Tesla finally succeeded on Monday, after multiple attempts over nearly two weeks, to get the electric-vehicle giant’s stock past upside technical resistance and into fresh bull-market territory.
A couple of bullish fundamental catalysts, like an analyst upgrade and a labor battle that Tesla’s rivals are facing, helped bulls get the stock TSLA over the line.
The stock powered up 10.1% to close at $273.58, or 27.0% above the Aug. 18 close. The rally, which marked the best one-day performance for the stock since it climbed 11.0% on Jan. 27., left resistance at the 50-DMA, which was at $256.63, in the dust.
A couple of bullish fundamental catalysts, like an analyst upgrade and a labor battle that Tesla’s rivals are facing, helped bulls get the stock TSLA over the line.
The stock powered up 10.1% to close at $273.58, or 27.0% above the Aug. 18 close. The rally, which marked the best one-day performance for the stock since it climbed 11.0% on Jan. 27., left resistance at the 50-DMA, which was at $256.63, in the dust.
Source:
$BYD COMPANY (01211.HK)$ $BYD Co. (BYDDF.US)$ $S&P 500 Index (.SPX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Tesla (TSLA.US)$ $VOLKSWAGEN A G (VWAGY.US)$ $NIO Inc (NIO.US)$ $Li Auto (LI.US)$ $XPeng (XPEV.US)$ $General Motors (GM.US)$ $Ford Motor (F.US)$ $Rivian Automotive (RIVN.US)$ $MERCEDES-BENZ GROUP AG (MBGAF.US)$ $TOYOTA MOTOR CORP (TOYOF.US)$ $GEELY AUTO (00175.HK)$ $Stellantis NV (STLA.US)$
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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MonkeyGee : Now this is balanced news. you surprised me.
ZnWC OP MonkeyGee : Thanks for contributing "comment".
MonkeyGee : You are amazing at twisting words! How do you get overbought from the article. what's the real purpose of your post?
source:
Tesla Inc.’s bulls finally succeeded on Monday, after multiple attempts over nearly two weeks, to get the electric-vehicle giant’s stock past upside technical resistance and into fresh bull-market territory. You know this is going to continue to run right?
ZnWC OP MonkeyGee : Thanks for contributing "comment".
MonkeyGee ZnWC OP : Thanks for contributing "comment".
ZnWC OP MonkeyGee : Thanks for contributing "comment".