Tesla Stock Rebounded In January, Surging Over 40% via insideevs.com
in a recent report. The automaker’s shares ended the month trading at $173.22, after shares bottomed at $101.81 on January 6.
January also represented Tesla’s best month since October 2021, when it rose 44 percent closing at a pre-stock-split price of $371.33. CappThesis founder and technical analyst Frank Cappelleri pointed to the stock chart, noting what Tesla may need to do to maintain positive investor sentiment. “Needless to say, this pace can’t continue, but for the comeback to persist, Tesla [stock] must now prove it can constructively digest these gains,” Cappelleri said. “Specifically, it would be beneficial if the stock pauses, forms a bullish pattern, and then breaks out again. Other than that, it’s challenging to chase it in the short term.”
Cappelleri points out that investors often look short-term following huge rallies, not expecting the good times to last. Additionally, it can be painful for some to lose out on money gained so quickly — sometimes leading to selloffs that can slow or halt momentum for a company’s stock rallies.also notes that market technicians primarily look at chart patterns as indicators of general investor sentiment, in hopes to determine what may come next.
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