Tesla stock continue to move as part of the fall and the downward channel. Moving averages indicate a short-term bearish trend for Tesla. Prices have gone down from the area between the signal lines, which indicates pressure from sellers of securities. At the time of publication of the forecast, the value of the shares is 128.77. As part of the forecast, we should expect an attempt to develop a bullish correction and a test of the resistance level near the area of 145.05. Further, a rebound down and continued decline in the value of the company’s securities. The potential target of such a movement is the area below the level of 75.05.
Tesla Stock Forecast January 20, 2023
An additional signal in favor of reducing 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 170.05. This will indicate a breakdown of the resistance area and continued growth to the area at the level of 215.05. It is worth expecting an acceleration in the fall of shares with a breakdown of the support area and closing below the level of 115.05.
Tesla Stock Forecast January 20, 2023 suggests the development of a correction and a test of the resistance area near the level of 145.05. Where should we expect a downward rebound and an attempt to continue the fall of the pair to the area below the level of 75.05. A test of the trend line on the relative strength index (RSI) will come out in favor of the currency pair’s decline. Cancellation of the Tesla fall option will be a strong growth and a breakdown of the level of 170.05. This will indicate a breakdown of resistance and continued growth in value to the area above the level of 215.05.
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