Tesla shares have made a comeback after a five-day losing streak, which saw the stock lose 18% of its value. Despite this, the shares have trended sharply higher since breaking out from an ascending triangle in early November, following the US presidential election.
Analysts are predicting a price target of around $745 and project that the current uptrend may last until early March. Investors should watch important support levels on Tesla’s chart, including $370 and $300, which could serve as buying opportunities if the stock continues to retreat from its recent highs.
The stock hit a record high in mid-December amid optimism over CEO Elon Musk’s ties with President-elect Donald Trump. However, it slumped after the Christmas break, tracking a broader market decline, and tumbled 6% on the first trading session of 2025 when the company’s fourth-quarter vehicle deliveries report came in weaker than expected.
Despite this, Tesla shares surged more than 60% in 2024, with most gains coming after the November 5 election. The stock jumped 8% following a strong sales report from China, boosting confidence that a recovery could be underway in the world’s largest car market.
As of Monday’s session, Tesla shares finished up 0.2% at $411.05, 16% below the stock’s all-time high set on December 18. The relative strength index (RSI) still indicates a bullish price momentum, with investors looking for buying opportunities around key support levels.
Source: https://www.investopedia.com/tesla-stock-price-levels-to-watch-after-volatile-stretch-8769556