TSLA Stock: Price Chart Analysis

<img src="https://images.unsplash.com/photo-1585011650347-c59dbef5a823?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wxMTc3M3wwfDF8c2VhcmNofDR8fHRlc2xhfGVufDB8fHx8MTY4ODQ2NzgyNHww&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=2000" alt="TSLA Stock: Price Chart Analysis" /><p>According to Bloomberg, the world&apos;s richest people got even richer in the first half of 2023. Musk tops the list with +USD 96.6 billion, followed by Zuckerberg with +USD 58.9 billion. The staggering growth in personal wealth is driven by the bullish stock market of META (up more than +140% since the beginning of the year) and TSLA (up more than +150% since the beginning of the year).</p><p>Perhaps to catch up with Musk, Zuckerberg gave the green light to the launch (scheduled for July 6) of Twitter&apos;s competitor, the Threads social network. Recall that Musk does not like this so much that he challenged Zuckerberg to a fight, and Zuckerberg agreed. Negotiations are underway with UFC managers about holding a billionaire fight.</p><p>Meanwhile, the bull market continues, with TSLA&apos;s share price hitting a new high for the year after reporting record EV shipments in Q2. At the same time, the TSLA stock chart shows that:</p><p>→ the price of TSLA breaks through the descending channel with a gap (shown in red) and fixes above it within the ascending channel (shown in blue);<br>→ TSLA price is near the upper border of the rising channel, which is resisting;<br>→ TSLA price is approaching psychological resistance at USD 300 per share — last year it proved to be a test for bulls, showing their failure.</p><p>According to analysts published by CNNMoney, the average target price for TSLA shares is around USD 220.</p><figure><img src="https://fxopen.com/blog/en/content/images/2023/07/4j2.png" alt="TSLA Stock: Price Chart Analysis" loading="lazy" width="2000" height="1099" srcset="https://fxopen.com/blog/en/content/images/size/w600/2023/07/4j2.png 600w, https://fxopen.com/blog/en/content/images/size/w1000/2023/07/4j2.png 1000w, https://fxopen.com/blog/en/content/images/size/w1600/2023/07/4j2.png 1600w, https://fxopen.com/blog/en/content/images/size/w2400/2023/07/4j2.png 2400w" sizes="(min-width: 720px) 720px" /></figure><p>Given the above, we can assume that the TSLA stock market is vulnerable to a pullback within the blue channel. But that&apos;s probably less likely to upset Musk more than his loss in a possible fight against Zuckerberg.</p>