Tesla Stock: Key Price Levels to Watch After Post-Earnings Surge

Tesla (TSLA) shares have been on a rollercoaster ride lately, with the stock surging after the company's earnings report and then consolidating within a flag pattern. As investors look to capitalize on the post-earnings momentum, it's essential to keep an eye on several key price levels that could indicate the stock's next move. Let's dive into the technical analysis and identify these crucial support and resistance levels.



1. Flag Pattern Breakout: Tesla shares have been consolidating within a flag pattern since hitting a record high last month. The price is set to gap above the pattern's upper trendline on Thursday, which could resume the stock's upward momentum. This breakout indicates a bullish continuation of the trend, and investors should watch for an increase in trading volume to validate the move.
2. Bars Pattern Analysis: By overlaying the stock's trending move from October to December from the flag pattern's lower trendline, a longer-term bullish target of around $790 is projected. This suggests that the stock could potentially double from its current price, providing a significant upside target for investors. Keep in mind that this target is based on historical price action and may not be reached in the near term.
3. Major Support Levels: During dips, investors should initially watch the $360 level, a location where the shares could find support near two minor peaks that formed on the chart in November. Selling below this level could see a more substantial fall to around $300, which may attract buying interest near the physiological round number and the prominent July 2023 swing high. Finally, further selling opens the door for a decline to the $265 level, where the stock could find support from the upward sloping 200-day moving average and a trendline that connects multiple peaks on the chart stretching back to October 2023.



As Tesla's stock price continues to fluctuate, investors should monitor these key price levels to make informed decisions about their investments. Keep in mind that technical analysis is not foolproof, and it's essential to consider fundamental factors and other indicators when making investment decisions.

In conclusion, Tesla's stock price has the potential to surge after the post-earnings breakout from the flag pattern. However, investors should be aware of the major support levels around $360, $300, and $265, which could act as areas of interest during potential retracements. By keeping an eye on these price levels and the broader market trends, investors can better position themselves to capitalize on the stock's next move.