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Tesla Stock Surges 8.2%, Up 60% Since April, Approaches Key Resistance Levels

Jul 2, 2024, 02:07 PM

Tesla Inc. ($TSLA) experienced a significant surge in its stock price, rising by 8.2% in a single day. This increase brings the stock up 60% since April and positions it near a critical resistance level on the charts. The stock is currently trading at $227, having previously been in the $170s. Market analysts are closely watching to see if Tesla can push through the downtrend line from its all-time highs and the 200-week simple moving average (SMA). The surge is attributed to strong Q2 delivery numbers, which have positively influenced investor sentiment. Additionally, Tesla saw an increase in call premiums, with $3.5M in 285 calls being bought.