TSLA Share Price Rises Sharply amid News of Musk's Increased Stake in the Company

FXOpen

According to media reports, Elon Musk has increased his stake in Tesla by more than one and a half times — previously, the billionaire owned approximately 13% of the shares, now he owns 20.5% of Tesla. And earlier it was reported that Musk wants to increase his stake in Tesla to at least 25%.

At the same time, the TSLA share price rose sharply in yesterday's trading by more than 6%, while the S&P 500 stock market index increased by “only” +0.6%.

The TSLA stock chart today shows that:
→ the price has overcome the psychological mark of USD 200 per share;
→ the price has overcome the resistance level of USD 195 per share;
→ a bullish reversal pattern inverted head-and-shoulders has formed on the chart.

The situation gives hope to the bulls in a disadvantageous situation, because:
→ TSLA stock price is in a bearish trend (as shown by the red channel);
→ the last quarter report disappointed investors — and the price formed a wide bearish gap at the end of January.

How determined are the bulls, will they be able to break the trend? This will show their ability to overcome resistance levels:
→ 206.0 – in the area of the upper border of the gap;
→ median line of the descending channel;
→ SMA line (100) pointing down.

Buy and sell stocks of the world's biggest publicly-listed companies with CFDs on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Latest from Shares

TSLA Analysis: Price Recovers after Disastrous Report High Hopes for Amazon as Analysts Look at Earnings Call Potential 5 Stocks To Consider For April 2024 Stock Market Analysis: NVDA Losing Leadership? AAPL Share Price Falls More Than 4% after Antitrust Lawsuit

Latest articles

Indices

Hong Kong Stocks Become Top Risers After Wild Ride Subsides

Hong Kong enjoyed a sterling reputation for an entire century as a highly polished, utterly stable mantlepiece upon which global corporations could comfortably sit and where an international talent base could reside in fabulous surroundings and approach European, American, African

Commodities

Brent Oil Price Did Not Rise Despite Iran's Attack on Israel

As you know, Iran launched a missile attack on Israel over the weekend. This could greatly increase the price of Brent oil, given that Iran is one of the top 10 oil producing countries, and the fact of the strike

Weekly Market Wrap With Gary Thomson: FTSE, NZD/USD, USD, USD/JPY
Financial Market News

Weekly Market Wrap With Gary Thomson: FTSE, NZD/USD, USD, USD/JPY

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of  FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.

  • FTSE 100's Holy Grail
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.