Tesla(US:TSLA) Finbold·2024-07-23 10:11Stock Performance - Tesla's stock has gained 37.75% over the past 30 days, with a recent 5.15% increase in the latest trading session, setting the price at $251.51 [1] - The stock is trading above its trend line, forming a bullish Dragon Pattern, which suggests a potential bullish reversal from the recent downtrend [2] Technical Analysis - The Dragon Pattern is a technical analysis tool indicating reversal price models and predicting future market trends, comprising five elements: a head, two feet, a hump, and a tail [3] - The pattern can signal both bullish and bearish trends, with trading rules involving drawing a trend line from the head to the hump's peak to enter the market when the price crosses this line [4] - Key indicators include the convergence of the 50 EMA (blue) and 200 EMA (red), which is a common precursor to significant price movements [2] - A breakout above the resistance level of $266.52, confirmed with increased trading volume, would validate the Dragon Pattern, indicating a potential upward trend continuation [2] Future Projections - The potential upward movement could aim for levels above $300, with stop-losses recommended below recent lows around $220 to mitigate risk [2] Company Developments - Tesla's CEO Elon Musk announced plans to produce humanoid robots for internal use by 2025, with potential external sales by the end of 2025 [5] - The humanoid robot, Optimus, is currently performing simple factory tasks in the lab and is expected to be in Tesla's factories by the end of 2024 [5]