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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 389.15 suggesting the next support level is at 351.30. This weakness suggests the long-term uptrend is turning neutral.
The stock has support at 351.30 and 329.88. If the stock breaks down through support at 351.30 then it will probably continue lower to 329.88. The stock will meet resistance at 389.15 and 422.38. If the stock breaks up through resistance at 389.15 then it will probably continue higher to 422.38. The 200-day moving average is at 244.67. This will also act as support. The stock is extremely oversold according to the Stochastic Indicator (19.20).”
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