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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 715.93 suggesting the next level of support is 631.95. The long-term uptrend has now turned neutral.
The stock has support at 631.95 and 588.74. If the stock breaks down through support at 631.95 then it will probably continue lower to 588.74. The stock will meet resistance at 715.93 and 843.11. If the stock breaks up through resistance at 715.93 then it will probably continue higher to 843.11. The 200-day moving average is at 428.78. This will also act as support. If the stock closes below 588.74 a negative trend change is probable. Look for the stock to fall to the 200-day moving average at 428.78. The stock is extremely overbought according to the Stochastic Indicator (81.81), 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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