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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 846.01 suggesting the next support level is at 718.27. This weakness suggests the long-term trend is turning neutral.
The stock has support at 718.27 and 629.16. If the stock breaks down through support at 718.27 then it will probably continue lower to 629.16. The stock will meet resistance at 846.01 and 944.78. If the stock breaks up through resistance at 846.01 then it will probably continue higher to 944.78. The 200-day moving average is at 431.31. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (77.13), 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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