Tesla Stock Could Provide Solid Entry Point Within This Trend
Portfolio Pulse from Melanie Schaffer
Tesla's stock closed 3.11% higher on Friday, ahead of the announcement that all Model 3 vehicles in the U.S. now qualify for the full EV tax credit of $7,500. The stock has been trading in a strong uptrend, but a reversal candlestick suggests a retracement may be on the horizon.
June 05, 2023 | 2:19 pm
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Tesla's stock rose 3.11% on Friday, with all Model 3 vehicles now qualifying for the full $7,500 EV tax credit. The stock is in a strong uptrend, but a retracement may be imminent.
Tesla's stock has been in a strong uptrend, and the announcement of all Model 3 vehicles qualifying for the full EV tax credit is a positive development for the company. However, the stock formed a reversal candlestick on Friday, suggesting a retracement may be on the horizon. This could lead to a short-term pullback in the stock price, but the overall trend remains positive.
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IMPORTANCE 80
RELEVANCE 100