$Tesla Motors(TSLA)$ According to the Tesla chart, the stock price increased by 2% on Monday, closing above the key psychological level of $400.
Bullish sentiment was driven by Morgan Stanley analysts raising their target price for Tesla from $400 to $430, citing the company's "highly promising" progress in autonomous vehicle (AV) technology.
From a technical analysis perspective, this upward move is notable. Applying a linear regression trend channel from early November, when Tesla’s stock began a sharp rise following news of Trump’s victory (supported by Elon Musk).
This suggests that bulls may be attempting to resume movement within the regression channel. If successful, a reasonable target could be the median line of the channel, implying a potential price increase towards $450, with resistance at $426 being a key level to watch.
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