Tesla Stock Skyrockets 27% Following Impressive Q2 Deliveries, Major Support Level at $205 Could Signal Bullish Reversal for Tesla

Benzinga
Benzinga
  • 13 days ago
Tesla shares surged 27% last week after better-than-expected second-quarter deliveries and building anticipation for the company's upcoming Robotaxi Day event. The rally pushed Tesla stock above the 50-day and 200-day moving averages and a prominent 12-month downtrend line, indicating strong buying momentum. Support may be found around $205, which connects major highs and lows from the past year and forms the neckline of an inverse head and shoulders pattern. Technical analysts view the stock's piercing candlestick pattern in late April as signaling a potential trend reversal from downward to upward.

Recommended

0:39
I
Up next
Rising Unemployment May Signal US Recession, According to This Economic Indicator
Benzinga
0:37
Vice President Kamala Harris Defends President Biden, Warns Trump Will Be a "Dictator on Day 1"
Benzinga
0:40
Philadelphia Radio Host Resigns After Using Pre-Approved Interview Questions by Biden Campaign
Benzinga
0:51
Tesla Shorts Under Pressure as Q2 Deliveries Surpass Expectations: Tariff Wars and Political Factors Shake Up EV Market
Benzinga
0:42
X CEO Linda Yaccarino Under Pressure as Major Advertisers Abandon the Platform Under Elon Musk's Leadership
Benzinga
0:35
Revolut CEO to Sell Stake in Company in $500 Million Share Sale
Benzinga
0:42
Thousands of Samsung Workers Stage Protest for Fair Compensation as Union's Three-Day Strike at Samsung Aims to Disrupt Production
Benzinga
0:37
Carlsberg Acquires Soft-Drink Maker Britvic for $4.2 Billion
Benzinga
0:38
Tropical Storm Beryl Intensifies, Set to Unleash Havoc on Texas Coast as Residents Are Ordered to Evacuate
Benzinga
0:37
United Airlines Boeing Jet Loses Wheel After Takeoff From Los Angeles, Lands Safely In Denver
Benzinga
0:46
White House Denies Biden Undergoing Parkinson's Treatment: Press Secretary Says 'No' To President Taking Medication For The Condition
Benzinga
0:35
Britain's New Finance Minister Unveils Ambitious Plans to Revitalize UK Economy and Tackle Housing Crisis
Benzinga
0:38
Russian President Vladimir Putin to Meet with India's Prime Minister Narendra Modi to Reinforce 'Traditionally Friendly Relations'
Benzinga
0:52
Marjorie Taylor Greene Says Voting For 'Mystery Presidential Candidate' Put Up By Democrats Will Be The 'Last Nail In The Coffin For All Of Us'
Benzinga
0:43
Warren Buffett-Backed BYD To Build $1B Plant In Turkey With Annual Production Capacity Of 150K Vehicles
Benzinga
0:38
French Prime Minister Gabriel Attal Resigns Amid Legislative Election Upset
Benzinga
0:40
Novak Djokovic Criticizes Wimbledon Crowd For 'Disrespectful' Behavior
Benzinga
0:38
Credit Card Debt Rises As Consumers Face Higher Costs Of Living
Benzinga
0:40
France's Left-Wing New Popular Front Emerges as Frontrunner in French Parliamentary Elections
Benzinga
0:37
Four Senior House Democrats Urge President Biden to Withdraw as Biden Remains Determined to Stay in the Race
Benzinga
0:38
Prominent Democrats Issue Memo Proposes Biden's Mid-July Exit from Presidential Race, Calls for 'Blitz Primary'
Benzinga
0:48
Corporate Bankruptcies Hit A High In June: Is The US Economy Slowing?
Benzinga
0:46
Peter Schiff Says 'Smart Money Is Selling' And Dumb Money Is Buying It Through ETFs: 'They Set Up Bitcoin ETF Investors To Be The Bag Holders'
Benzinga
0:40
Democratic Senator Murphy Warns, 'The Clock is Ticking': Critical Week Ahead for Biden
Benzinga
0:42
Tesla Set To Introduce 'Night Curfew' And Speed Limiters — A Bane For Teens But A Boon For Parents?
Benzinga