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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 848.91 suggesting the next support level is at 720.61. This weakness suggests the long-term trend is turning neutral.
The stock has support at 720.61 and 627.84. If the stock breaks down through support at 720.61 then it will probably continue lower to 627.84. The stock will meet resistance at 848.91 and 944.78. If the stock breaks up through resistance at 848.91 then it will probably continue higher to 944.78. The 200-day moving average is at 433.88. This will also act as support. The stock is slightly overbought according to the Stochastic Indicator (73.96).”
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