Cryptocurrencies

Tesla Stock Pulls Back: Will the $1 Trillion Milestone Spark Growth in 2025?

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Written By: Lilly Mwogah

Dec 24, 2024, 09:45 GMT 09:45

Summary:

Tesla stock trades at $430.60 after hitting a $1 trillion market cap milestone. Explore key support and resistance levels & outlook for 2025.

Tesla Inc. (NASDAQ: TSLA) remains a key focus for investors this Christmas Eve, with its stock trading at $430.60. The company recently surpassed the $1 trillion market cap milestone, cementing its position as a leader in EV and clean energy sectors. While the stock has pulled back slightly from its high of $484.33, Tesla continues to dominate market discussions.

Tesla’s Technical Chart Analysis

Support Levels:
- Key support at $400.38, aligning with the 20-day EMA.
- Additional support at $346.22, the 50-day EMA, providing a solid foundation if the pullback continues.
Resistance Levels:
- Immediate resistance at $450, with a stronger hurdle near the recent high of $484.33.

Tesla Chart Today

Tesla Outlook for 2025

Tesla’s dominance in the electric vehicle sector and its history of robust performance set it up for ongoing success in 2025. Nevertheless, investors need to watch the stock attentively, since elevated valuations and possible market changes could bring about short-term fluctuations. Given its solid fundamentals and growth potential, Tesla continues to be a stock to monitor as the year ends.

This post was last modified on Dec 24, 2024, 09:46 GMT 09:46

Written By: Lilly Mwogah

Lilly Mwogah is a finance writer specializing in cryptocurrencies, forex, and indices. Passionate about simplifying complex financial topics, she creates engaging content for a broad audience. With a solid grasp of market trends and economic indicators, her work informs and empowers readers to navigate the dynamic finance world.