Technical analysis, price predictions and news on Tesla stock for week ending 06/26/2021. The trend reversal to the upside is underway as Tesla had a strong rally on two consecutive days this week. Tesla pushed through several resistance levels and ran into a key resistance level at $700. It has been consolidating between $550 and $700 for the past 4 months and a breakout of consolidation would be very bullish. Not only that, but it will break BACK into the long term uptrend channel going back to August of last year! The picture is definitely favoring bulls at the moment as this bullish trend reversal could continue, pushing Tesla back to all time highs.
Tesla news this week includes:
- Cars.com’s American-Made Index places Tesla Model 3 atop list
- NYC votes to block new licenses for electric taxis
- Rumor: Tesla Model 3 and Model Y almost sold out for Q3 2021 in the US