TSLA Stock Forecast using 1-hr TESLA Chart for Technical Analysis

Today we’re going to talk about Tesla and the market. Yesterday was a fairly interesting day, but the Dow, NASDAQ, and S&P, for the most part, closed flat. Today’s action is going to be sparked by Nvidia, which is up 10% in the after-hours, but this video is about Tesla.

Tesla closed at 200 yesterday, and the area around it was the focus of yesterday’s video. There was concern about it opening there, as it was good support but not strong support. It was predicted that it would break through and go down to the next level. This prediction came true, and it was observed that the support line was always at 190. However, this time, people wanted to get in before it got down to that level, and so the buyers came in, and it snapped back up. This is why support and resistance trend lines make things simple, and it works.

Tesla stock is right up on this trend line, and it’s going to open at 203.95 or 204. If the market can hold itself up, it’s believed that Tesla can have the momentum to finally bust through the 208-209 area resistance. This resistance is pretty strong, and even though it doesn’t appear in the area to the left, it is expected that Tesla will make a play at the 215-216 area. This 210-209-215 area is almost like a zone with different levels of buying and selling at different levels in this zone, which will make it a little sloppy. However, it is believed that Tesla stock will blast through it.

It is predicted that Tesla stock will hit the target area by March 1st, which is why it is greyed out. It’s not known how or when, but it is believed to be around this time. If it falls short, then they will do something good and tag that area. Then it will be time for a new video, and the stock might go down.

In conclusion, that is all for today’s video. Thank you for watching, and I hope that you will join me again next time.