Chart of the Day - Thursday, January 30, 2025

Patrick Dunuwila
January 30, 2025

Chart of the Day


🏆 Today's Chart of the Day was shared by Ricardo Sarraf (@nullcharts). 
 

  • Tesla Inc. ($TSLA) rose +2.9% today despite missing earnings estimates yesterday. It traded lower at one point this morning before reversing higher and closing above $400. 
     
  • The stock emerged from a three-year base in December after clearing its 2021 peak at $400. Since then, it has coiled into a Triangle pattern, setting the stage for a large move in the coming weeks. 
     
  • If $TSLA resolves higher from this consolidation pattern, the next upside target is $600, representing the 161.8% Fibonacci extension of the base. 
     

The Takeaway: Tesla ($TSLA) refused to break down despite missing earnings estimates. If the stock continues to respect $400, it could rally +50% to $600 in the coming months. 

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