The Key Takeaways
- Tesla’s shares gained some ground in the two most recent sessions following a losing streak of five days during which it lost 18% its value.
- Even though the stock has recently pulled back, it’s trend has been sharply up since the breakout from the ascending triangle that was formed in November early following the U.S. election.
- According to the analysis, the price of bars is expected to be $745. This current trend may continue until March.
- Investors should watch important support levels on Tesla's chart around $370 and $300.
Tesla (TSLA), shares gained in the past two trading sessions, after a losing streak of five days during which they lost 18%.
Stocks reached a new high by mid-December, amid hopes that Elon Musk’s close relationship with Donald Trump would benefit the electric vehicle maker. Tesla shares rose more than 60 percent in 2024. The majority of these gains came after the November 5 elections.
Tesla’s stock fell 6% in the first session of trading 2025, following a general market downturn. The company reported lower-than-expected fourth quarter vehicle delivery figures. After the stock rose 8%, Tesla announced that its China sales had hit record levels last year. The news boosted the confidence of investors who believed a market recovery was underway.
Tesla shares finished Monday's session up 0.2% at $411.05. That's 16% below the stock's all-time high set on December 18.
Here, we look closely at Tesla’s weekly price chart to highlight key levels that you should be on the lookout for.
The Strong Uptrend is Still Intact
Tesla shares, despite recent declines, have been trending strongly higher ever since they emerged from a triangle ascending in November after the U.S. presidential election.
Moreover the relative strength indicator (RSI), still displays a reading close to overbought, highlighting stock price’s upward momentum.
We will use technical analysis to identify key support levels and predict the future direction of this uptrend.
Bars Pattern Analysis
Investors can make use of the bar pattern tool to forecast bullish prices and how long they may continue the upward trend before the stock begins consolidating. This tool analyzes past trends in order to project future movements.
In order to apply the analysis on Tesla’s graph, we reposition the price bars from November’s breakout. The target is $745, and the move upwards could last as long as early March.
This trend began after a breakout by nearly 30% of a previous ascending triangle. It closely matched the current stock price.
Keep an eye on the Support Levels
The $370 mark is an important level to watch if the share price continues its decline from recent highs. This area on the chart may provide support for the stock near several peaks located just below early November’s 2021 peak.
If the share price falls below $300, it could return to its lower support. Investors can join the long-term trend in this area, near the round psychological number. There is also a line that connects the peaks of August and July.
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According to the article, as of its date of publication, the author did not hold any of these securities.
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