Business idea Tesla shares: Consolidation is over!  |  Investing.com

Business idea Tesla shares: Consolidation is over! | Investing.com


Dear traders,

Surprisingly, US electric car maker Tesla (NASDAQ: ) sold more cars in China in August than market watchers had previously expected. This gave the securities a corresponding increase in the last trading week. From a technical point of view, the pressure to comply with the return to the lower trigger level established in the summer of US$ 206.86 may be stopped, and for a short time. The bearish trend was also ended by rising prices on Friday. This raises the possibility of new multi-month highs and can be covered through corresponding long positions.

Long position:

Tesla started Friday with a gap to Thursday’s closing price, confirming a possible resolution of the previous consolidation. As a result, more price strength could now be provided at the summer highs of USD 314.67, above which it could continue again to the decline of USD 343.00 that has been in place since the end of November last year. A different situation is not possible due to the significant development of Tesla shares, where a reduction of less than $ 265.74 to $ 250.35 will be considered.

important points: LONG

  • Market buy order entry: $300.42
  • Price target : $314.67 / $343.00
  • Stop:
  • Risk Size for CFD: $25.42
  • Time horizon: 3-6 weeks

Daily chart:

Tesla_daily_chart

Tesla Motors Inc.; Daily, local time (GMT+1); Share price at the time of writing $300.42; place of business: NYSE; 08:00 am