The price of the Tesla shares increased, as it got 3 % at the opening hour of the trade on Friday to $ 331. This is the last session before the company launches the long -awaited Robotaxi experiments in Austin, Texas, and merchants wandering for part of the procedure. Although the event is to be a major turning point in the company’s business model, it also carries a potential risk of launching.
The arrow gained 4.4 % in the last five sessions, and has a pulp bossy current. Merchants should pay attention to sizes as highly influential events are often followed by aggressive profits. Therefore, the decrease in trading volumes during the upward trend is a strong indication of weakening of momentum. While the robotoxy project is in the long run optimism, the price of Tesla’s share faces pressure from short -term disorders caused by poor sales.
The company continues to face the increasing competition in its main markets in China, Europe and analysts, and the Q2 delivery of 375,000 is expected, less than a previous collective number of 440,000 units. In addition, the long -term production of its factory in Austin starting from June 30 can see that it is behind the production goals. These factors offer the opposite winds in the short term against the price of the Tesla share in the coming days and can lead to an extended residence less than $ 320.
Tesla’s share price expectations
The momentum on the price of the Tesla shares calls for more upward trend if the procedure remains above $ 326. This is likely to witness the initial resistance facing $ 332. A buyer will be broken by buyers above this level and will be able to test 336 dollars in the extension.
On the other hand, TSLA price momentum will turn to the downside if less than $ 326 collapses. This first support that was created at $ 322 will witness. The collapse under this level will nullify the bullish direction. In addition, the resulting momentum can extend the downside and test $ 319.
