Tesla stock continue to move within the fall and the downtrend channel. Moving averages indicate a short-term bearish trend for Tesla. Prices moved down from the area between the signal lines downward, which indicates pressure from the sellers of securities. At the time of publication of the forecast, the share price is 651.67. As part of the forecast, we should expect an attempt to develop a correction and test the resistance level near the area of 735.05. Further, the rebound and the continuation of the fall in the value of securities. A potential target of such a movement is the area below the level of 420.05.
Tesla Stock Forecast and Analysis March 5, 2021
An additional signal in favor of a fall in Tesla quotes will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the option of falling Tesla stock quotes will be a strong growth and a breakdown of the level of 815.05. This will indicate a breakdown of the resistance area and a continued rise to the area at the level of 875.05. Expect an acceleration in the fall of shares with the breakdown of the support area and closing below the level of 605.05.
Tesla Stock Forecast and Analysis March 5, 2021 assumes the development of a correction and a test of the resistance area near the level of 735.05. Where can we expect a rebound and an attempt to continue the pair’s fall to the area below the level of 420.05. A test of the trend line on the relative strength index (RSI) will be in favor of the fall of the currency pair. Cancellation of the Tesla reduction option will be a strong growth and a breakdown of the level of 815.05. This will indicate a breakdown of resistance and a continued rise in value to the area above the level of 875.05.
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