Tesla share: back to reason and normality? – Chart analysis

The Tesla share is currently reasonably stable, the indications are currently around $ 11 below yesterday’s NASDAQ closing price for the electric car manufacturer’s share at $ 1,499.11. But from a technical point of view, this does not mean that the all-clear for the hype title, whose share price has shot up from $ 948.52 to just under $ 1,795 within a few days. Just a reminder: About a year ago, the Tesla share was around $ 223, and in mid-March the corona crash for the paper ended at $ 350.51. The fact that there are dangers of more extensive consolidation in the room is therefore not a big worry.

Only the Tesla share would not be the Tesla share if it had not regularly avoided such risks – at least so far. The recent multi-day consolidation from the top brought the US group’s share price back to $ 1,366.54 it reached last Friday. Since then, Tesla’s share price has recovered, but there was no sign of any great upward momentum. So it remains open whether the calming after the hype to $ 1,795 is over or whether the consolidation of the paper continues for quite some time. The latter would be healthier, but reason and normality apply even less to the Tesla share than to the rest of the stock exchange.

As a result, technical chart scenarios for paper largely remain as outlined above. In addition to the range between $ 1,413 and $ 1,429 / 1,431, traders should also note the zones at $ 1,366 / 1,378 and $ 1,336 / 1,351 and $ 1,311 as “emergency stops”. Sell ​​signals at these brands could become trigger points for further chart-driven profit taking on Tesla’s shares.

Meanwhile, between $ 1,550 and $ 1,590, the first chart hurdles will hit if the upward trend continues. In the last few days of trading, the zone was not tested, let alone put at risk. Above that, $ 1,650 / $ 1,689 and the all-time high of just under $ 1,795 would be possible chart targets for Tesla’s share price.


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