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“On a long-term technical basis, the stock (TSLA) is trading below its 200-day moving average which implies it is in a negative trend. If the new level of support at 222.25 holds, look for a bounce to the next resistance level at 231.13. If the stock breaks up through resistance at 258.58 a positive trend change is being attempted. Look for a possible long-term rally to previous highs.
The stock has support at 222.25 and 211.00. If the stock breaks down through support at 222.25 then it will probably continue lower to 211.00. The stock has resistance at 231.13 and at 258.35. If the stock breaks up through resistance at 231.13 then it will probably continue higher to 258.35. The 200-day moving average is at 269.88. This will also act as resistance. The stock is neutral according to the Stochastic Indicator (48.17).”
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