Tesla stock setback, Why I’m STILL bullish | TSLA Technical Analysis, Price Predictions, News


 

Technical analysis, price predictions and news on Tesla stock for week ending 06/05/2021.  Tesla suffers setback in shortened trading week, but why I’m still bullish long term.  It appears to be trying to form a base of consolidation around the 200DMA.  If Tesla can prove to hold above the 200DMA, it would make for a case of a new bull run, possibly similar to its 10 month rally after touching the 200DMA previously in March 2020.  Resistance levels to watch for on the way up is first $604.  Next resistance comes in at $625.  Then comes $656 and finally $677.  To the downside, there should be significant support at the $550 level.  A break below that, and we might see it drop to as low as $500.

 

Tesla news this week includes:

  • Impact of higher oil price on EVs
  • Jay Leno: Tesla is 7-8 years ahead of everyone in battery technology
  • Tesla Model 3 establishes itself as best selling EV in France
  • Tesla tops global EV sales in April, holds substantial lead for 2021
  • Vanessa Bryant gives new Tesla to Kobe’s sister
  • Tesla China orders down 50% in May
  • @teslashanghai tweets Tesla China sales actually increased 88% MoM, contradicting reports of China orders dropping 50% in the same period

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