Technically, the share price is showing bullish momentum after holding key support at $265.13 yesterday, a level tied to prior swing lows (see red numbered circles on the chart above). The bounce off this area helped keep buyers in play, and the price has now reclaimed the 200-hour moving average at $280.34—a level that previously was broken earlier this week but failed..
But risks remain.
The good for the shares is Tesla does produce cars in the US. So they are less impacted by tariffs.
As a result of the potential volatility, understanding the technicals in play is crucial.
Support: $265.13 (swing low)
Bias: Bullish above $280.34, bearish if back below
Bottom line: Technical buyers are in control in the short-term above $280.34 with room to run toward $302.10. But headline and political risk tied to Elon Musk’s external ventures could cloud the outlook..
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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