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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 generally implies it is in a positive trend. However, the stock has recently broken down through an important fibonacci fan trendline at 898.14 suggesting the next support level is at 760.45. This weakness suggests the long-term uptrend is turning neutral.
The stock has support at 760.45 and 686.53. If the stock breaks down through support at 760.45 then it will probably continue lower to 686.53. The stock will meet resistance at 843.29 and 898.14. If the stock breaks up through resistance at 843.29 then it will probably continue higher to 898.14. The 200-day moving average is at 482.28. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (77.55).”
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