Tesla Wave Analysis – 30 December, 2022

• Tesla reversed from support level 114.00

• Likely to rise to resistance level 150.00

Tesla recently reversed up from the major long-term support level 114.00 (which has been repeatedly reversing the price from the start of 2020, as can be seen from the weekly Tesla chart below).

The support area near the support level 114.00 was further strengthened by the lower weekly Bollinger band.

Given the oversold reading on both the weekly Stochastic and RSI indicators, Tesla can be expected to rise further toward the next resistance level 150.00.