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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 697.18 suggesting the next level of support is 643.51. The long-term uptrend has now turned neutral.
The stock has support at 643.51 and 574.42. If the stock breaks down through support at 643.51 then it will probably continue lower to 574.42. The stock will meet resistance at 697.18 and 819.94. If the stock breaks up through resistance at 697.18 then it will probably continue higher to 819.94. The 200-day moving average is at 408.32. This will also act as support. If the stock closes below 574.42 a negative trend change is probable. Look for the stock to fall to the 200-day moving average at 408.32. The stock is extremely overbought according to the Stochastic Indicator (88.51), so look for a possible pullback soon. Confirm this with the Short-Term and Daily Opinion to keep from exiting prematurely.”
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