Tesla quotes continue to move as part of the fall and the formation of a bullish “Wolfe Wave” pattern. Moving averages indicate a short-term bearish trend for Tesla. Prices went down from the area between the signal lines down, which indicates pressure from sellers of securities. At the time of publication of the forecast, the value of the shares is 930.00. As part of the forecast, we should expect an attempt to develop a decline and test the support level near the area of 795.05. Further, a rebound upwards and the continuation of the rise in the value of securities. The potential target of such a movement is the area above the level of 1155.05.
Tesla Stock Forecast January 26, 2022
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 bullish ”Wolfe Wave” pattern. Cancellation of the option of raising the quotes of Tesla shares will be a fall and a breakdown of the level of 685.05. This will indicate a breakdown of the support area and a continuation of the fall to the area at the level of 565.05. It is worth expecting an acceleration of the rise in shares with a breakdown of the resistance area and closing above the level of 975.05, which will indicate a breakdown of the upper limit of the descending channel.
Tesla Stock Forecast January 26, 2022 suggests the development of a correction and a test of the support area near the level of 795.05. Where should we expect a rebound upwards and an attempt to continue the rise of the pair to the area above the level of 1155.05. In favor of the rise of the currency pair, a test of the trend line on the relative strength index (RSI) will come out. Cancellation of the Tesla growth option will be a fall and a breakdown of the level of 685.05. This will indicate a breakdown of support and a continuation of the fall in value to the area below the level of 565.05.
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