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Tesla Inc (TSLA) “On a long-term technical basis, the stock (TSLA) is trading below its 200-day moving average which implies it is in a negative trend.
The stock has support at 242.33 and 222.25. If the stock breaks down through support at 242.33 then it will probably continue lower to 222.25. The stock has resistance at 248.71 and at 266.07. If the stock breaks up through resistance at 248.71 then it will probably continue higher to 266.07. The 200-day moving average is at 256.54. This will also act as resistance. The stock has broken out of its long-term downtrend and is looking more positive recently. If the stock can form new support above 242.33 look for a rally to previous highs. The stock is slightly overbought according to the Stochastic Indicator (73.68).”
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