Tesla (TSLA) on September 24, 2024

For Tesla (TSLA) on September 24, 2024, the stock appears to be in a bullish phase following its 5% surge on Monday, September 23. This upward momentum is driven by positive analyst sentiment, including expectations of better-than-expected vehicle deliveries for Q3 and potential upcoming announcements related to Tesla's robotaxi event on October 10.

Key Technical Levels:

Support Levels:

Initial support lies around $225, which aligns with the gap created in July. This level will likely serve as a buffer if the price pulls back.
Stronger support can be found around $205, a level tied to previous lows and a potential entry point for bulls if further weakness is observed.

Resistance Levels:

The next resistance is near $265, a key area where sellers could emerge, capping the recent rally.
If Tesla continues its upward trajectory, an extended target could be $300, where resistance could increase significantly.

Price Action & Moving Averages:
Short-Term Moving Averages (10-50 days) suggest continued bullishness with buy signals across key periods (5, 10, 20-day MAs). Tesla’s stock price around $238.25 is above critical short- and long-term moving averages, indicating upward momentum.

The RSI is around 59.41, which implies that Tesla is not overbought, suggesting potential room for further gains before entering overbought territory.

MACD & Stochastic Indicators:
MACD (5.46) implies continued bullish momentum, though the Stochastic RSI at 84.43 signals a sell condition, suggesting caution for overextended moves in the short term​.

For tomorrow's trading, watch for a continuation of today's rally if Tesla can maintain momentum above $250. On the downside, watch the $225 support, as a break below could signal a reversal. It would be prudent to monitor volume levels closely since increased volume will provide stronger confirmation of any sustained price movement.