Is Tesla Stock Headed Over $1,500? Technically Yes, And Here’s Why

Is Tesla Stock Headed Over $1,500? Technically Yes, And Here’s Why
A driver recharges the battery of his Tesla car at a Tesla Super Charging station in a petrol station on the highway in Sailly-Flibeaucourt, France, on Jan. 12, 2019. Pascal Rossignol/File Photo/Reuters
|Updated:

Tesla, Inc was rising over 4 percent on Monday in reaction to a bull flag pattern, which the stock had developed on the daily chart.

The bull flag pattern is created with a sharp rise higher forming the pole, which is then followed by a consolidation pattern that brings the stock lower between a channel with parallel lines.