- Tesla stock price is trading above 20,50 and 100-day EMA level.
- Tesla stock price is currently trading at $261.77.
- Tesla (TSLA)’s live market cap is $812.16 billion.
Tesla, Inc. (TSLA) was founded in California by Elon Musk. It is well-known for its electric vehicles, energy storage systems, and renewable energy technologies. Tesla stock is traded on a number of exchanges, including the NASDAQ.
Tesla has attracted a lot of attention in recent years due to its groundbreaking technology, strong brand presence, and aggressive development plans. In the electric car business, the firm has a substantial market share and has established itself as a pioneer in the transition to sustainable transportation.
Trend Analysis
On June 2nd, Tesla’s stock price saw a breakout accompanied by high trading volume, indicating a possible trend reversal and shift towards an uptrend. Notably, Tesla’s stock had been trading in a descending triangle pattern for around two years, but the price ultimately reversed its direction after a period.
Tesla’s stock price is now on an uptrend, trading at $261.77, representing a 2.03% rise in today’s market session. This price increase is expected to attract buyers to Tesla shares. Tesla is forming a very good market structure and prie is likely to rise in upcoming days.
Tesla (TSLA) Stock Price Analysis
EMA
On a daily basis, Tesla (TSLA) is now trading above the 20, 50, and 200-day EMAs, which is a strong indication. The stock price of Tesla (TSLA) is rising, and buy-side investor sentiment is projected to strengthen in the near future.
MACD
On a weekly basis, Tesla’s MACD line is now above the signal line, signifying a bullish signal. The presence of red histograms indicates a rise in bearish momentum. This suggests that Tesla’s price will likely grow more in the near future.
RSI
With an RSI of 67.89 and the 14-day Simple Moving Average (SMA) line positioned roughly 53.89 below the median line, the indicators point to the presence of positive momentum in the market for Tesla. In addition, the RSI is not yet in the oversold zone, indicating that the stock is gaining traction.
Volume Analysis
The volume of Tesla stock, as shown in the charts, is gradually growing, indicating a positive and promising indicator for the stock price’s upward trajectory. This increasing volume indicates increased market participation and maybe increased investor interest in Tesla shares.
Conclusion
In conclusion, the analysis indicates that Tesla has a good market structure with positive momentum. Indicators such as MACD, RSI, and EMA support this optimistic mood, indicating that the price of Tesla may rise in the future.
Technical Levels:
- Support – is $14.9010.
- Resistance – is $19.0789.
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss
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