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Tesla Inc. Murrey Analysis

2/9/2023 3:34 PM

The shares of Tesla Inc., the world's leading manufacturer of electric cars, have continued to rise strongly since the beginning of this year. During this time, the price reversed from the lower border of Murrey's main trading range at 100.00 (Murrey's level [0/8]) and rose to its upper border at 200.00 (Murrey's level [8/8]), consolidation above, which will give the prospect of further growth to 212.50 (Murrey level [+1/8]) and 225.00 (Murrey level [+2/8]). The pivot point 175.00 (Murrey's level [6/8]) seems to be the key one for the bears. Consolidation below it may cause the quotes to decline to the central level of Murrey's trading range of 150.00 (Murrey's level [4/8]).

Technical indicators point to the continuation of the downward trend: Bollinger bands and Stochastic are directed upwards, and the MACD histogram is increasing in the positive zone.

Resistance levels: 200.00, 212.50, 225.00. | Support levels: 175.00, 162.50, 150.00.

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