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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. If the new level of support at 234.74 holds, look for a bounce to the next resistance level at 248.83. If the stock breaks up through resistance at 248.83 a positive trend change is being attempted. Look for a possible long-term rally to previous highs.
The stock has support at 234.74 and 222.25. If the stock breaks down through support at 234.74 then it will probably continue lower to 222.25. The stock has resistance at 248.83 and at 261.63. If the stock breaks up through resistance at 248.83 then it will probably continue higher to 261.63. The 200-day moving average is at 261.63. This will also act as resistance. The stock is neutral according to the Stochastic Indicator (56.55).”
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