Current trend

Shares of Tesla Inc., a leading manufacturer of electric cars, are rising within a short-term upward trend. During this time, the price has reversed from the central mark of the main Murrey trading range of 187.50 (Murrey level [4/8]) and is now close to its upper limit of 250.00 (Murrey level [8/8]). Consolidation above will allow the asset to reach the upper reversal zone of 265.62 (Murrey level [ 1/8]) and 281.25 (Murrey level [ 2/8]). In case of consolidation below the reversal mark 218.75 (Murrey level [6/8]), supported by the middle line of Bollinger bands, a decline to the area of ​​203.12 (Murrey level [5/8]) and 187.50 (Murrey level [4/8]) may follow.

Technical indicators reflect the continuation of the upward trend: Bollinger bands and Stochastic are directed upward, and the MACD histogram is increasing in the positive zone.

Support and resistance

Resistance levels: 250.00, 265.62, 281.25.

Support levels: 218.75, 203.12, 187.50.

Trading tips

Long positions may be opened above 250.00, with the targets of 265.62, 281.25, and stop loss of 239.30. Implementation period: 5–7 days.

Short positions may be opened below 218.75, with the targets of 203.12, 187.50, and stop loss of 228.90.