Tesla: Is the Stock Heading Below $710?
2022.06.10 15:01
When we look at the Tesla (NASDAQ:TSLA) chart, we can see the fall from the $780 range on Jun. 4, finding temporary support at the $710 range, and its rebound to the $730 on Jun. 7, but failing to consolidate if fell lower on Jun. 8 to the $690 range which now acts as the main support line.
Since then, it managed to form a leg up in the $720 and rise to the $750 on Jun. 8. During yesterday’s session, it reached as high as the $770 level but quickly returned to the $750 and slowly faded to the end of the session. It was last found trading at $719.85.
Today we could expect an extension of the retraction falling below $710 and close to the $690 support level. If it manages to hold the current level, a case can be made for a bounce to the $750 level.
Tesla stock price chart.
