Watch These Tesla Price Levels as Stock Regains Traction After Recent Pullback

Core Insights - Tesla shares experienced an 8% surge, driven by weaker-than-expected inflation data, which raised investor hopes for potential interest rate cuts by the Federal Reserve, thereby enhancing demand for electric vehicles (EVs) through lower financing costs [2][8] - Despite being 12% below their mid-December high, Tesla shares have increased by 70% since early November, partly due to expectations that the company's self-driving robotaxi ambitions could be expedited under the incoming Trump administration [3][8] Technical Analysis - Tesla shares have shown a strong upward trend since breaking out from an ascending triangle in early November, currently consolidating within a flag pattern, indicating a continuation of this uptrend [4][8] - The 50-day moving average is poised to cross above the 200-day moving average, signaling a bullish golden cross, which typically indicates a new upward movement [4] Price Targets and Support Levels - A longer-term bullish price target for Tesla is projected at around $775, representing approximately 80% upside from the closing price on the day of the report, based on bars pattern analysis [6][8] - Key support levels to monitor include the $300 level, which is expected to attract strong support, and if the stock falls below this, it may drop to around $265, where buying interest could emerge [7][8]