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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 834.43 suggesting the next support level is at 708.90. This weakness suggests the long-term trend is turning neutral.
The stock has support at 708.90 and 639.78. If the stock breaks down through support at 708.90 then it will probably continue lower to 639.78. The stock will meet resistance at 834.43 and 944.78. If the stock breaks up through resistance at 834.43 then it will probably continue higher to 944.78. The 200-day moving average is at 421.12. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (88.31).”
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