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 $4 Trillion Market Cap For Tesla
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$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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