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Zenger
Zenger
Technology
Bhavik Nair

Tesla Stock Surges Past $250 Resistance Level, Bond Market Pessimism Looms

Nasdaq Tesla Inc.
In an aerial view, Tesla cars sit parked in a lot at the Tesla factory on April 20, 2022 in Fremont, California. Tesla reported first quarter earnings that far exceeded analyst expectations with revenue of $18.76 billion compared to expectations of $17.80 billion. PHOTO BY JUSTIN SULLIVAN/GETTY IMAGES

Shares of Tesla Inc (NASDAQ:TSLA) surpassed the $250 resistance level this week, potentially disappointing Call sellers. The stock has shown a similar pattern in the previous week and has experienced a notable 38% rally in the past month. 

However, the bond market’s growing pessimism ahead of key events poses a potential hurdle to the stock’s rally. The upcoming testimony of Federal Reserve Chair Jerome Powell before Congress and the Bank of England’s monetary policy decision are factors to watch. 

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