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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 735.96 suggesting the next support level is at 629.23. This weakness suggests the long-term trend is turning neutral.
The stock has support at 629.23 and 522.50. If the stock breaks down through support at 629.23 then it will probably continue lower to 522.50. The stock will meet resistance at 648.73 and 735.96. If the stock breaks up through resistance at 648.73 then it will probably continue higher to 735.96. The 200-day moving average is at 358.80. This will also act as support. The stock is extremely oversold according to the Stochastic Indicator (24.14).”
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