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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 814.15 suggesting the next support level is at 692.49. This weakness suggests the long-term trend is turning neutral.
The stock has support at 692.49 and 644.79. If the stock breaks down through support at 692.49 then it will probably continue lower to 644.79. The stock will meet resistance at 814.15 and 944.78. If the stock breaks up through resistance at 814.15 then it will probably continue higher to 944.78. The 200-day moving average is at 403.45. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (90.62).”
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