Tesla stock continue to move as part of a strong downward correction correction after strong growth. Moving averages indicate the presence of a short-term bullish trend for Tesla. Prices have gone far up from the area between the signal lines, which indicates pressure from buyers of securities. At the time of publication of the forecast, the value of shares is 734.33. As part of the forecast, we should expect an attempt to develop a correction and a test of the support level near the area of 705.05. Further, a rebound and continued growth in the value of securities. The potential target of this movement is the area above the level of 1075.05.
Tesla Stock Forecast and Chart February 7, 2020
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 boundary of the bullish channel. The cancellation of the growth option for Tesla stock price quotes will be a fall and a breakdown of 665.05. This will indicate a breakdown of the support area and continued fall into the area at the level of 425.05, in this case it is worth considering the formation of the «V-shaped formation» model. Expect acceleration of stock growth is with the breakdown of the resistance area and closing above 905.00.
Tesla Stock Forecast and Chart February 7, 2020 suggests the development of a correction and test of the support area near the level of 705.05. Where can we expect a rebound and an attempt to continue the growth of the pair in the region above the level of 1075.05. A test of the trend line on the relative strength index (RSI) will be in favor of the rise in the currency pair. Cancellation of the growth option for the Tesla index will be a fall and a breakdown of the level of 665.05. This will indicate a breakdown of support and a continued fall in value to the area below the level of 425.05.
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