Tesla's Surge to $411.05: Analyst Upgrades and Bullish Momentum

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Tesla's Surge to $411.05: Analyst Upgrades and Bullish Momentum
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Description
As of January 14, 2025, Tesla's stock price has surged beyond $400, closing at $411.05 in the previous trading session. This increase is largely attributed to Morgan Stanley's revised target...
show moreThe trading volume for Tesla was lower than average, with a total share count 23% below the 30-day average, indicating a relatively low trading activity[5].
Recent news includes Tesla's fourth-quarter vehicle deliveries report, which came in weaker than expected, causing the stock to slump 6% on the first trading session of 2025. However, the stock jumped 8% the following day as the automaker announced record sales in China, boosting confidence in a recovery in the world's largest car market[3].
Major analyst updates include Morgan Stanley's price target increase, while the average 12-month price target for TSLA stands at $323.56, with 13 out of 34 analysts recommending buying Tesla stock[1].
Technical analysis suggests that the stock is trending sharply higher since breaking out from an ascending triangle in early November following the U.S. presidential election. The relative strength index (RSI) still gives a reading near overbought levels, highlighting the stock's bullish price momentum. Bars pattern analysis forecasts a price target of around $745 and projects the current uptrend may last until early March[3].
Key support levels to watch include $370 and $300, where the shares may find support near several peaks positioned just below the stock's early November 2021 top. A close below these levels could see the shares revisit lower support around $300[3].
Overall, Tesla's stock price is showing strong bullish momentum, driven by positive news and analyst upgrades, despite recent volatility and lower-than-average trading volume.
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Author | QP-4 |
Organization | William Corbin |
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