Market Overview

Tesla's Technical Rally

Related TSLA
How Fiat Chrysler And Other Automakers Performed On First Days Of Trading
Statement from Michigan Gov. Rick Snyder Offers Details of House Bill 5606
High-Flying Stocks Fall Victim to Volatility (Fox Business)

Shares of Tesla Motors (NASDAQ: TSLA) have rallied by four percent Monday due to major technical level focuses.

The $218 to $219 price levels form early April to late May appear to have been dominant trending areas, with the stock continuing to recover most recently from its minor June 30 slump. Since the electric automaker missed earnings guidance on May 7, causing its share price to slump from its $218 trend, shares recovered after strong performance beginning its most recent quarter.

Technical traders appear to be focused on the opening pricing, causing a high spike in trading volume.

Shares of SolarCity (NASDAQ: SCTY) have rallied by 2.9 percent. Tesla and SolarCity have recently seen high correlation due to the two companies attempt to support Tesla vehicles with the increased accessibility of electric chargers.

Posted-In: Technicals Movers Tech Trading Ideas

 

Related Articles (TSLA + SCTY)

Around the Web, We're Loving...

Get Benzinga's Newsletters