TESLA INC. (NASDAQ:TSLA): Tesla stock's downtrend is still intact

 


Tesla stock bounced off its support at ~ $327.50 on Wednesday after Benchmark upgraded the stock to a buy with a price target of $475, citing growth prospects via self-driving EVs, robotics, and energy generation/storage. From a technical viewpoint, Tesla stock's downtrend is still intact with the price target of $288.39 after a descending triangle chart pattern breakdown on February 5. Be aware that the bulls will try to break the stock's downtrend and could take the stock up to retest the trendline resistance ~ $370.

This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

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