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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 broken through an important trendline at 626.88 suggesting the next level of support is 520.71. The long-term uptrend has now turned neutral.
The stock has support at 520.71 and 361.20. If the stock breaks down through support at 520.71 then it will probably continue lower to 361.20. The stock will meet resistance at 626.88 and 733.06. If the stock breaks up through resistance at 626.88 then it will probably continue higher to 733.06. The 200-day moving average is at 356.54. This will also act as support. If the stock closes below 520.71 a negative trend change is probable. Look for the stock to fall to the 200-day moving average at 356.54. The stock is slightly oversold according to the Stochastic Indicator (29.14).”
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