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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 633.91 suggesting the next level of support is 526.08. The long-term uptrend has now turned neutral.
The stock has support at 526.08 and 362.84. If the stock breaks down through support at 526.08 then it will probably continue lower to 362.84. The stock will meet resistance at 633.91 and 741.75. If the stock breaks up through resistance at 633.91 then it will probably continue higher to 741.75. The 200-day moving average is at 362.84. This will also act as support. If the stock closes below 526.08 a negative trend change is probable. Look for the stock to fall to the 200-day moving average at 362.84. The stock is extremely oversold according to the Stochastic Indicator (15.75).”
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