TSLA Analysis: Share Price Leads Stock Market Growth

<img src="https://images.unsplash.com/photo-1637704758039-ec844dc00819?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wxMTc3M3wwfDF8c2VhcmNofDI0fHx0ZXNsYXxlbnwwfHx8fDE2OTI3MDg1NTZ8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=2000" alt="TSLA Analysis: Share Price Leads Stock Market Growth" /><p>Yesterday, TSLA&apos;s share price rose 7%, while the S&amp;P 500 index also started the week positively, showing an increase of approximately 0.7%.</p><p>According to the media, the reason for the upward momentum was the fact that investment company Baird noted a number of positive factors that await Tesla in the 2nd half of the year, including the launch of Cybertruck. The company&apos;s analysts have set a Buy rating on TSLA shares with a target price of USD 300, which represents about 32% upside from Monday&apos;s closing price.</p><figure><img src="https://fxopen.com/blog/en/content/images/2023/08/222–2-.png" alt="TSLA Analysis: Share Price Leads Stock Market Growth" loading="lazy" width="2000" height="1099" srcset="https://fxopen.com/blog/en/content/images/size/w600/2023/08/222–2-.png 600w, https://fxopen.com/blog/en/content/images/size/w1000/2023/08/222–2-.png 1000w, https://fxopen.com/blog/en/content/images/size/w1600/2023/08/222–2-.png 1600w, https://fxopen.com/blog/en/content/images/size/w2400/2023/08/222–2-.png 2400w" sizes="(min-width: 720px) 720px" /></figure><p><strong>Bullish arguments:</strong><br>→ The price of TSLA bounced off the support block formed by the lower border of the rising channel and the level of USD 215, which served as resistance in February.<br>→ The August 18 doji candle indicated that the market may have found an equilibrium of supply and demand after a series of bearish candles.<br>→ The price of the S&amp;P 500 index found support near the lower border of the rising channel (see its construction, for example, in this post).<br>→ Yesterday&apos;s bullish momentum is the strongest since March this year, so it could spread to the following days.</p><p><strong>Bearish arguments:</strong><br>→ Former support at USD 241 looks capable of resisting the rising price of TSLA shares.</p>