- Tesla shares remain in low volatility mode.
- The US CPI could give the markets much needed direction.
- TSLA breaks the 200-day moving average again.
Tesla stock, as we mentioned yesterday, has gotten a bit boring. Getting stuck in a range is fine, but eventually there will be a catalyst that will shake the stock out anyway. Equity markets have generally been on hold over the past few sessions as traders remain nervous about hitting new all-time highs ahead of the release of US CPI data. Tesla managed to recoup some of the losses it suffered in May, but stalled at around $ 600.
Tesla stock forecast
All bets are off until the CPI data comes in, but Tesla has at least a few good levels to target from both sides when things start moving again. $ 539 tier, $ 540 depending on your data provider – ok, little workaround.
There is no longer a single marketplace as it was in the past when the NYSE was the only marketplace in the city, regulatory changes have resulted in other exchanges such as BATS CHI-X, not to mention dark pools where large transactions can take place. done without specifying the order size in the market. All this means that prices more or less accurately track each other depending on the exchange, but sometimes there are slight discrepancies. More importantly, this means that tracking volume has become much more difficult and the volume indicators are not what they used to be.
Okay enough divergence, the $ 539 level is the key to maintaining any bullish sentiment. The gap should lead to a quick move below $ 500 due to the lack of price determination on the way up from the consolidation zone 1 to the $ 600 area. Pricing is important because it shows a battle or price acceptance between bulls and bears. TSLA’s share price would eventually break out of consolidation zones, but the upward speed meant little time was left to determine the price. Thus, a break below $ 539 could mean acceleration to the bearish target zone outlined on the chart. The $ 667 level remains pivotal for bulls to break again to complete a series of lower highs and lows.