Tesla Back Above $200 Per Share: A Technical Look

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Shares of Tesla Motors Inc TSLA have appreciated roughly 13 percent from the $192.65 low made Wednesday morning, now trading back above the $200 mark.

Over the past week the $205/$206 appeared to be a level of significance. Beginning on December 9, shares of Tesla bounced of the $205 level and moved back up to roughly $217.

Shares then trended lower, eventually coming back down to the $205 level on December 12, and quickly bounced back above $210.

On Monday, shares broke the $205 level and quickly reached a low of $195.50, then bounced back up to $205.

On Wednesday, shares made a low of $192.65, and began to trend higher back to the $205 level. Shares then bounced of the $205 level three times acting as resistance.

On Thursday, shares broke the $205 resistance by gapping above the level and continued to trend higher.

Shares closed Thursday at $218.26, up 6.04 percent.

Posted In: TechnicalsTrading Ideas
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