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  • Tesla (TSLA) stock continues to slide as Friday sees 6% loss.
  • Tesla (TSLA) now nearing key $1,000 support and pivot.
  • Tesla (TSLA) is likely to move quickly to $910 if the stock breaches $1,000.

Tesla stock continues to remain under increased selling pressure as markets take a risk-off approach in the current environment. The emergence of the omicron covid variant appears to have put the brakes on the latest rally but the move had become overdone anyway and some correction was necessary. While 2021 has been the year to buy dips, is this one different? We think not and reckon now is the time to wade back in but we take a differing approach here with Tesla (TSLA). The stock has had a standout 2021 and is likely to suffer from now into year-end. The temptation of profit taking is just too strong here. Technically $1,000 is key. Holding will put in place a bullish double bottom and make us change our call but we, for now, remain bearish and see $1,000 breaking, leading to a sharp acc

Tesla (TSLA) Stock Price and Forecast: Will Tesla fall to $900?

Tesla (TSLA) Stock Price and Forecast: Will Tesla fall to $900?

FXStreet News FXStreet News 06.12.2021 19:29
Tesla (TSLA) stock continues to slide as Friday sees 6% loss. Tesla (TSLA) now nearing key $1,000 support and pivot. Tesla (TSLA) is likely to move quickly to $910 if the stock breaches $1,000. Tesla stock continues to remain under increased selling pressure as markets take a risk-off approach in the current environment. The emergence of the omicron covid variant appears to have put the brakes on the latest rally but the move had become overdone anyway and some correction was necessary. While 2021 has been the year to buy dips, is this one different? We think not and reckon now is the time to wade back in but we take a differing approach here with Tesla (TSLA). The stock has had a standout 2021 and is likely to suffer from now into year-end. The temptation of profit taking is just too strong here. Technically $1,000 is key. Holding will put in place a bullish double bottom and make us change our call but we, for now, remain bearish and see $1,000 breaking, leading to a sharp acceleration to $910. Our daily chart for Tesla (TSLA) above shows just how much pain the stock has taken this past couple of weeks. Tesla was nearing gains of 80% for 2021 in early November but now is back to a gain of 45% for the year so far. Still a strong outperformance against the benchmarks. Tesla (TSLA) stock news The most anticipated of product launches, that of the cybertruck, has been delayed to the end of 2022 according to a Twitter post from CEO Elon Musk. He gave more details about the proposed cybertruck saying it will have four motors, one for each wheel, and will be able to crab sideways. Elon Musk will give more details on Tesla's next earnings call. China sees a recall for some Tesla cars with a report in Electrek stating "According to a statement from China’s State Administration for Market Regulation (SAMR), Tesla Shanghai filed a recall plan for 21,599 Model Y EVs manufactured in the country. The automaker cited issues pertaining to the strength of front and rear steering knuckles, stating they may not meet the automaker’s design requirements". Also of note is Elon Musk selling another $1 billion worth of stock, while Cathie Wood of ARK also is still trimming her funds holding in the name. Tesla (TSLA) stock forecast $1,000 is huge, break and it is likely straight to $910. Hold and we would expect more all-time highs before year-end. It is that simple in our view. This one is big. $910 closes the gap from the whole Hertz parabolic move and markets love to fill gaps. Holding on the other hand confirms a double bottom which is a powerful bullish reversal signal. We would need some confirmation with either a stochastic or MACD crossover or a bullish divergence from the RSI. So far we have none of these, making a break lower more likely in our view.
TSLA Stock Price and Forecast: Why Tesla will break $1,200 on Wednesday

TSLA Stock Price and Forecast: Why Tesla will break $1,200 on Wednesday

FXStreet News FXStreet News 01.12.2021 16:20
Tesla emerges unscathed from another equity sell-off on Tuesday. TSLA is likely to break higher on Wednesday as buyers return. Tesla CEO Elon Musk takes a bite out of Apple. Tesla (TSLA) stock can do no wrong in 2021, and it avoided another market meltdown on Tuesday. While panic ensued following Powell's remarks about the taper and inflation, TSLA held firmly in the green. Equity indices finished nearly 2% lower on Tuesday, but Tesla shares closed at $1,144.76 for a gain of 0.7%. This was another strong outperformance for a stock that is up 62% year to date. Contrast that with the Nasdaq, up 25 % for 2021, and the S&P 500, up a similar amount. 2021 has been the year of the electric vehicle, and Tesla paved the way for others to follow, notably Rivian (RIVN) and Lucid (LCID). Our chart above shows the strong correlation between Tesla and Lucid with both stocks putting in a stellar second half for 2021. Tesla (TSLA) stock news Elon Musk is nothing if not entertaining, and on a slow news day for Tesla he livened things up by taking a pop on Twitter toward Apple. Don’t waste your money on that silly Apple Cloth, buy our whistle instead! — Elon Musk (@elonmusk) December 1, 2021 The Apple cloth he is referring to is a polishing cloth available from Apple for $19. Tesla recently launched a Cyberwhistle for what reason? Who knows, but it is currently sold out. At $50 for a whistle, it is not exactly cheap. It seems people just love a Tesla product. Apple was no slouch either on Tuesday as the stock set all-time highs. Tesla (TSLA) stock forecast The triangle formation still holds and a breakout is awaited. A triangle pattern is usually a continuation pattern, and Wednesday could provide the catalyst to break higher. The stock has consolidated well despite some strong headwinds: notably, Elon Musk selling a Cybertruck load of stock, and Tesla not performing well in a recent reliability test. It did however score highly on customer satisfaction, and investor satisfaction is also high given the strong performance. We expect more all-time highs this week even with the surrounding Omicron volatility. Our view will change if Tesla cracked below key support at $1,063. TSLA 1-day chart

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