Tesla shares made a significant recovery, rallying over 11%
$Tesla (TSLA.US)$ The article revealed thatTesla shares have made a significant recovery, rallying over 11% and closing above the 200-day moving average (DMA) at $219.96 last Friday. This marked an uptick of 1.6% in premarket trading on Monday, following an uptrend that began in January from a 2 ½-year intraday low of $101.81.
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Despite the setback, market analysts suggest that the previous trend remains intact if retracement stays within the Fibonacci ratio or "golden ratio" of 61.8%.
However, Tesla's stock faces substantial resistance just above current levels, defined by a price gap between October's low of $242.08 and high of $230.61, and the broken uptrend line around $246.
Related articles:
Elon Musk Backs Ron Baron's Vision Of $4 Trillion Market Cap For Tesla
Quote:
Despite the setback, market analysts suggest that the previous trend remains intact if retracement stays within the Fibonacci ratio or "golden ratio" of 61.8%.
However, Tesla's stock faces substantial resistance just above current levels, defined by a price gap between October's low of $242.08 and high of $230.61, and the broken uptrend line around $246.
Related articles:
Elon Musk Backs Ron Baron's Vision Of $4 Trillion Market Cap For Tesla
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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