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Tesla Forms a Massive Cup-and-Handle Pattern With a $765 Target

Investing.com·
Tesla Forms a Massive Cup-and-Handle Pattern With a $765 Target

Tesla rose on Friday alongside SpaceX following positive sentiment from a potential US-Iran peace deal. The stock is forming a year-long cup-and-handle pattern with a $765 price target. Technical analysis shows Tesla retesting the handle around $365-$380, with key resistance levels at $412, $445, and $488.5. The merger speculation between Tesla and SpaceX, combined with geopolitical risk reduction, is supporting the 'Elon premium' pricing in Tesla stock.

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