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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 738.85 suggesting the next support level is at 631.57. This weakness suggests the long-term trend is turning neutral.
The stock has support at 631.57 and 524.29. If the stock breaks down through support at 631.57 then it will probably continue lower to 524.29. The stock will meet resistance at 652.81 and 738.85. If the stock breaks up through resistance at 652.81 then it will probably continue higher to 738.85. The 200-day moving average is at 360.99. This will also act as support. The stock is extremely oversold according to the Stochastic Indicator (19.88).”
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