What is up moon gang today? Let's have a quick chat about the gift that keeps on giving tesla in this video. I will be going over the reasoning for one analyst new tesla price target of 788. After that, i will be doing a technical breakdown of tesla stock, so we know what price levels to watch between now and the end of the year before i get into all that, though, don't forget to join the moon gang by hitting the subscribe button and dropping A like all that support is truly appreciated and now without further ado, let's get started well, it looks as if the tesla bulls are back at it again. This analyst says: tesla stock is a buy and it has nothing to do with it being in the s p.

500. Analyst, joe osha. I hope i'm saying that right at jmp securities is now more bullish on tesla stock than ever, and his reasons are about the electric vehicle maker's potential over the next few years and not about the stock's inclusion into the s. P 500 index osha raised his stock price target by 53 to 788 dollars and, of course he reiterated his market outperform rating osha said he has based his investment position on tesla on the idea that he needs to look a few years out to 2025 to have A reasonable idea of what tesla might become here's what he said as we have watched the company evolve over the past six months.

Our 2.5 million unit delivery target for 2025 has looked increasingly plausible now as we exit the year and we review tesla's competitive position. Both the market opportunity and tesla's potential shipments are looking larger than we thought. So we raised his 2025 unit delivery target to 3.05 million vehicles and that new view is what prompted him to increase his stock price target. Now 788 is a sizable target, but honestly, i think it's a little too conservative by 2025.

I'm fully expecting for us to see the impact of tesla's vertical integration, which will lower the cost of batteries, which would help evs reach a price parity with common gasoline vehicles. Once this happens, we will most likely see a gigantic jump in demand for evs, and on top of that, maybe i am being a bit too optimistic, but as tesla continues to develop their autonomous technology, i really believe they're going to work on a robo-taxi network. The revenue from this ride hailing service would absolutely dwarf the sales of their vehicles and would most likely push their stock directly to the moon, speaking of which, let's check out. What's going on in the charts alrighty at the time that i'm filming this video tesla, which trades on the ticker tsla is currently at 640, the volume was a little light compared to its own 10-day average.

But that makes sense because we are heading into a market holiday across all the major time frames. Tesla is definitely in the green, in fact, from the start of the year until right now, tesla is up an incredible 660. This is the current technical situation that tesla stock is in for those of you who are new to the channel. Here's a quick recap of what's been going on the last major relative high came at the start of september and was at 500.

This happened right after the company's five for one stock split from there. There was a sell-off and the stock was ping-ponging back and forth and ended up forming this triangle, which is also referred to as a bullish pendant. It gets its name because they commonly do break upwards and that's exactly what happened, and we eventually saw a double top rejection at 462, then from mid-october. Until the start of november, tesla did sell off with the rest of the ev sector, except for neo, and a new relative low was formed at 380..

Then, for the first two weeks of november, we saw a bit of consolidation. We had a lower high and a higher low, and then it was announced that tesla stock would be included in the s p 500. This was pretty much a rocket ship for the stock and it shot up from 405 all the way up to 695 at its high, and it's currently at 640.. From the point of this announcement until right now, tesla is up an incredible 57 percent.

Obviously there has been quite a bit of bullish strength, but it's also worthwhile to note that tesla stock has been in a clear uptrend for march of this year. Until now, the stock has consistently been posting higher lows and higher highs. Most recently, though, tesla's first two days in the s p 500 index have been negative. Clearly, it's not starting off on the best foot.

There are two important technical things. I would like to bring to your attention right before tesla was put in the s p. 500. We had this breakout and it ended up hitting 695, which was a bunch of etfs and fund managers buying up tesla.

However, this ended up becoming a fake out breakout and the stock is now below this trend line. On top of that, we do have some bearish divergence in the rsi. What i mean by that is, if you look at this relative high compared to the newest one, the stock clearly went up, but the rsi didn't. This is referred to as bearish divergence and it's commonly a sign that a decline, or at least a period of consolidation may be coming, and that's exactly what we've been seeing over the past two days.

In my last tesla video, i spoke about how the stock closed below this previous resistance of 654, which meant that the next support of 608 was in play. The official low was 614, which means that we were just about one percent away. This price level is still very much in play and if the bears were to push tesla below that, the next support would come at this relative low of 566 and past that we have 541 at the current level to get to those three levels of support. Tesla would drop five percent 11 and 15.5 percent.

On the flip side, though, this may be all the consolidation that tesla needs and if the bull camp comes back swinging, the first resistance will come at 554. Then we have this trendline, which would then be followed by 695.. Once we get above 695, we would have to let price discovery play itself out, so we can better understand the new levels of supply and demand to get to those levels of resistance. The first one would be a gain of two percent: the trend line would roughly be a gain of 6 and 695 would be a gain of 8.3 percent.

I would like to quickly clarify that. Yes, these are important technical developments, this failed breakout and the bearish divergence, but don't forget that tesla is in a clear bullish, uptrend to get a better idea of what the stock might do between now and the end of the year. Let's see what's going on in the four-hour chart before we jump into this time frame, i want to quickly remind you that the name of this charting software is tradingview and, if you're interested in it, there's a link to a free 30-day trial. In the description of this video, if you sign up, it is a great way to support this channel okay back to tesla, so it was announced that tesla would be put in the s p, 500 in mid-november and from that point up until the start of december, The stock was caught in this upward channel, which is also referred to as a bear flag, and that's because they commonly break downwards.

That's exactly what we saw and support was eventually found at 540. The bull camp was not willing to accept any of this downward pressure and they quickly regained control on three separate attempts. They tried to get tesla back into this upward channel, but the third attempt was an official rejection at 658 and the stock was knocked down to a new higher support at 566.. Then the way we all wait for santa, we were waiting for tesla to be officially inducted into the s p 500, and at that point the stock was essentially range bound between 607 and 644..

Eventually, there was a failed breakout attempt and since then the stock has been selling off and now we're at 640 dollars on this time frame. You can more easily see what i was talking about with the bearish divergence from december 8th until december 18th. The stock has clearly gone higher, but the rsi hasn't this bearish divergence suggests that the buyers were starting to get a bit tired and since then the stock has been declining. Now, i'm fully aware that those are some negative terms, but i'm honestly looking at this as a positive development, it will give us an opportunity to invest in tesla at a cheaper price at one of these levels of support before the rsi finds a foundation and the Stock shoots to a new all-time high, whether it's one year, two years or even five years down the road.

I strongly believe that these price levels will be a big discount relative to where tesla will be trading in the immediate future. I would recommend paying attention to how the bull camp reacts to this support at 607 and how the bear camp reacts to this resistance at 658. You should also be watching for divergence in the rsi, but don't forget that tesla is the leading ev company and right now the ev sector is extremely hot, as things continue to develop, both fundamentally and technically, with tesla i'll make sure to keep you updated in future. Videos so make sure you have your notifications turned on.

I would love to get your thoughts on tesla in a comment below how do you think that the stock will perform in 2021? Personally, i have very high hopes for the stock, but feel free to. Let me know if you think, i'm missing something. If you enjoyed this video, don't forget to drop a like, and if you haven't already don't forget to join the moon gang by hitting the subscribe button. All that support is truly appreciated and, as a quick reminder, if you're interested in free stocks make sure to check out the link to the weeble trading platform in the description of this video thanks for watching, i hope you enjoy your holidays and best of luck in The markets you.