Technical analysis, price predictions and news on Tesla stock for week ending 05/15/2021. It was a rough week for Tesla as it continued to sell off. It broke below key uptrend channel and even broke below the 200DMA temporarily. If Tesla can hold above the 200DMA at around $584, we could see it rebound going forward, with resistance at around $650. A break above that and there will be some resistance at $670. In a truly bullish scenario we could see Tesla run to $863. To the downside, if $584 support doesn’t hold, we could see it drop as low as $530.
Tesla news this week includes:
- Panasonic plans to significantly increase profits due to Tesla battery business
- Elon Musk polls Twitter users whether or not Tesla should accept Dogecoin
- Tesla no longer accepting Bitcoin as payment