TSLA Price and Forecast: Why is TSLA Increasing?

Tesla has finally heeded our bullish forecast and is continuing to rise.
TSLA is currently aiming for the next $850 resistance level.
On the RSI, Tesla stock appears to be overbought.

In a series of steady and confident movements, Tesla’s (TSLA) stock price has finally pushed higher. We were on the verge of abandoning our bullish bet on Tesla stock as it struggled to stay above $800. But it ultimately got the job done, demonstrating the old saying that the more times a level is tried, the more likely it is to break. The closing above $800 on Tuesday, when Tesla finished at $805, was the spark.

“Give the company one final shot and stay with our optimistic call as long as Tesla stock remains above $781,” we said on Monday. This was the case, and by Tuesday, we got confirmation, and our call had gone well since then.

Tesla shares continued to rise on Thursday, reaching a high of $820 before ending at $818.32. The 0.89 percent gain was really a loss compared to the S&P 500, which gained 1.71 percent.

News about Tesla (TSLA)

The most important piece of recent news is a price target rise from US investment firm Jefferies, which increased Tesla’s price objective to $950 from $850, a lovely even $100…