Tesla Stocks Offer Another Upside
Tesla (TSLA) stock prices have been forming a giant triangle pattern since March 2020, with the pattern expected to complete by the end of 2024. In the interim, prices may rebound to the triangle's resistance at $225. In the second half of April, TSLA experienced a significant leap, surging by 42% to $196. Currently, prices are consolidating within the $165-175 trading range, which is very close to the support level established in March 2020. Buying operations look relatively safe at this level, with a stop-loss placed at $115.
Tesla has announced the production of cheaper models by 2025, targeting emerging markets such as India, Southeast Asia, and Latin America. This strategic move is expected to expand Tesla’s market reach and increase sales volumes in these regions. Additionally, the introduction of Tesla's Full Self-Drive technology is a significant advancement. This technology enables the potential launch of Robotaxis, which could disrupt the ridesharing market currently dominated by Uber and Lyft.
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