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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 680.78 suggesting the next level of support is 561.88. The long-term uptrend has now turned neutral.
The stock has support at 561.88 and 391.06. If the stock breaks down through support at 561.88 then it will probably continue lower to 391.06. The stock will meet resistance at 646.85 and 680.78. If the stock breaks up through resistance at 646.85 then it will probably continue higher to 680.78. The 200-day moving average is at 391.06. This will also act as support. If the stock closes below 561.88 a negative trend change is probable. Look for the stock to fall to the 200-day moving average at 391.06. The stock is slightly overbought according to the Stochastic Indicator (69.25).”
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