Current trend

Shares of Tesla Inc., a leading manufacturer of electric cars, are actively growing for the second month in a row: during this time, the asset reversed from 171.88 (Murrey level [3/8]), left the medium-term downward channel and reached the 265.62 mark (Murrey level [ 1/8]), but could not fix above it and adjusted downwards.

For the development of downward dynamics, quotes need to consolidate below the reversal mark of 218.75 (Murrey level [6/8]), supported by the central line of Bollinger Bands, which will become a catalyst for changing the current trend and strengthening movement towards the targets of 187.50 (Murrey level [4/8]) and 171.88 (Murrey level [3/8]). The key for the "bulls" remains the upper border of the Murrey trading range at 250.00 (Murrey level [8/8]), consolidating below which will allow quotes to strengthen their positions up to 281.25 (Murrey level [ 2/8]).

Technical indicators do not give a clear signal: Bollinger Bands are directed upwards, MACD is decreasing in the positive zone, but Stochastic is leaving the overbought zone.

Support and resistance

Resistance levels: 250.00, 281.25.

Support levels: 218.75, 187.50, 171.88.

Trading tips

Short positions should be opened below the 218.75 mark with targets of 187.50, 171.88 and stop-loss around 240.00. Implementation period: 5–7 days.

Long positions can be opened above the level of 250.00 with the target of 281.25 and stop-loss around 225.00.