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Tesla Inc (TSLA) “On a long-term technical basis, the stock (TSLA) is trading above its 200-day moving average, but has broken through an important support level, which implies it is in a neutral trend.
The stock has support at 365.91 and 340.84. If the stock breaks down through support at 365.91 then it will probably continue lower to 340.84. The stock has resistance at 529.66 and 638.60. If the stock breaks up through resistance at 529.66 then it will probably continue higher to 638.60. The 200-day moving average is at 365.91. This will also act as support. The stock’s long-term uptrend has changed into a sideways or downtrend. In this case, the stock will either go sideways for a while or sell-off back to where it started prior to the latest big upmove. This is a risky time for the stock, so be careful. Use caution during times like these, as the stock will be more volatile. Pay close attention to the Short-Term and Daily Opinion. The stock is extremely oversold according to the Stochastic Indicator (10.51).”
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