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Tesla Inc (TSLA) “On a long-term technical basis, the stock (TSLA) is trading above its 200-day moving average which generally implies it is in a positive trend. However, the stock has recently broken down through an important fibonacci fan trendline at 908.46 suggesting the next support level is at 869.82. This weakness suggests the long-term uptrend is turning neutral.
The stock has support at 869.82 and 769.30. If the stock breaks down through support at 869.82 then it will probably continue lower to 769.30. The stock will meet resistance at 908.46 and 968.99. If the stock breaks up through resistance at 908.46 then it will probably continue higher to 968.99. The 200-day moving average is at 492.24. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (83.80).”
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