Elon Musk “plays” with the company’s share price to the rhythm of his Twitter posts.
Elon Musk “plays” with the company’s share price at the pace of his Twitter posts. The latest eccentricities of the electric car manufacturer’s largest shareholder have led the stock to lose nearly 20% in little more than a week. The $970 and $930 levels are now the levels to watch. The definitive loss of the latter would cancel the bullish breakout gap left at the end of October, a potential bearish turnaround signal that could lead it, in the short term, to visit the $805 support or even its 200-session moving average ($745).
Above, $1,100 and $1,241 are the resistances to overcome. A daily close above the second resistance would put the stock back in a free upward phase, a scenario conducive to the development of a second upward escape towards $1,400-1,440.
Resistances: $1.100, $1.220, $1.241.
Supports: $970, $930, $805, $745.
Targets: (Bullish) $1.200, $1.400 (Bearish) $660.
Trend structure in TESLA:
- Short term: Neutral-bullish.
- Medium term: Bullish.
- Long term: Bullish.
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