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Jan 27, 2022 8:09 PM

Tesla TSLA Approaching Key Support Long

Tesla, Inc.NASDAQ

Description

This is a very simple analysis as it isn't a complicated setup.

Tesla is approaching the 200 day moving average (blue). In the past, this moving average has held up the stock every time although it has fallen through it slightly a few times.

The location of the 200 day moving average also lines up with the bottom trend line of a descending channel. I would suggest measuring the % amounts Tesla has dropped below the 200 day moving average and set your stops accordingly.

Comment

No way to know if this will hold, but here is the retest of the 200 day moving average which is happening at the moment of this comment.

Comments
Netris101
Nice one 👌
ttrending
@Netris101, Thanks! Hope you were able to trade it.
sdconstruction2000
nifty50
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