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Tesla Inc., Technical Analysis

1/31/2023 10:00 AM

Shares of Tesla Inc., the world's leading manufacturer of electric cars, continue their global correction, trading at 166.00.

On the daily chart, the price is trying to stay in the corrective trend, above the corridor with dynamic boundaries 160.00–143.00.

On the four-hour chart, the upside potential has weakened lately, and quotes are approaching the resistance line around 161.00 to test it. If the correction takes longer and quotes return to the channel, the trading instrument may reach 146.00, the initial level of the recent price gap from which the increase began.

Technical indicators weaken the buy signal: fast EMAs on the Alligator indicator actively approach the signal line, and the AO histogram forms downward bars.

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