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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 implies it is in a positive trend. However, the stock has recently broken through an important trendline at 730.16 suggesting the next support level is at 640.79. This weakness suggests the long-term trend is turning neutral.
The stock has support at 640.79 and 518.92. If the stock breaks down through support at 640.79 then it will probably continue lower to 518.92. The stock will meet resistance at 730.16 and 944.78. If the stock breaks up through resistance at 730.16 then it will probably continue higher to 944.78. The 200-day moving average is at 354.52. This will also act as support. The stock is neutral according to the Stochastic Indicator (35.52).”
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