Tesla stock continue to move as part of the growth and the formation of an inverted ”Head and Shoulders” pattern. Moving averages indicate a short-term bullish trend for Tesla. Prices are testing the area between the signal lines again, which indicates pressure from buyers of securities. At the time of publication of the forecast, the share price is 854.78. As part of the forecast, we should expect an attempt to develop a correction and test the support level near the 805.05 area. Further, a rebound and continued growth in the value of securities. A potential target of such a movement is the area above the level of 945.05.
Tesla Stock Forecast and Analysis February 5, 2021
An additional signal in favor of the growth of Tesla quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ”Head and Shoulders” reversal pattern. Cancellation of the growth option for the Tesla share price will be a fall and a breakdown of the level of 755.00. This will indicate a breakdown of the support area and continued fall into the area at the level of 695.05. Expect an acceleration in the growth of shares with the breakdown of the resistance area and closing above the level of 895.05.
Tesla Stock Forecast and Analysis February 3, 2021 assumes the development of a correction and a test of the support area near the level of 805.05. Where can we expect a rebound and an attempt to continue the growth of the pair to the area above the level of 945.05. A test of the trend line on the relative strength index (RSI) will be in favor of raising the currency pair. Cancellation of the Tesla growth option will be a fall and a breakdown of the level of 755.00. This will indicate a breakdown of support and a continued fall in value to the area below the level of 695.05.
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