Tesla Loses Charge, Negates Former Pattern: Why A Downturn Could Be Positive Going Forward
Portfolio Pulse from Melanie Schaffer
Tesla, Inc (NASDAQ:TSLA) was trading slightly lower on Monday with far-below-average volume, contrasting with the rising S&P 500. The company is set to release earnings soon, which will set the tone for the trading season. Analysts from Mizuho and Jefferies have maintained their ratings and raised price targets for Tesla. The stock is currently trading in a bull flag pattern, but continued downward momentum could negate this. Tesla has resistance above at $271.71 and $285.83 and support below at $254.98 and $234.35.
July 10, 2023 | 2:35 pm
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NEGATIVE IMPACT
Tesla's stock is trading lower, but analysts have maintained their ratings and raised price targets. The company's upcoming earnings release could influence the stock's performance.
The stock is trading lower, which could indicate a negative short-term impact. However, the maintained ratings and raised price targets from analysts suggest a positive outlook. The upcoming earnings release is a significant event that could influence the stock's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100