TELSA --- these are key points to watch for....SUPPORT LEVELS
TESLA which is at an all time high --- but regarding technicals has climbed way too high for its own good. Even Elon Musk has taken profits off the top. If you are watching technicals it may come back to meet the 50 day MA --- before it continues to higher highs again........
It bounced UP off the 50 day MOVING Averages in the past....as a history of how the stock moves...
BUT BUT BUT ---- Tesla is one of those RARE stocks that people just cant get enough of ----- so this thing may not follow normal patterns at all --- just saying! LOL.
But if it did... this is a possibility to come back a bit as a breather -- which is healthy ---- before GOING UP UP UP some more.
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KEY: 50-day moving average
Stock price above the 50-day moving average is considered bullish. Stock price below 50-day moving average is considered bearish. If the price meets the 50 day SMA as support and bounces upwards, you should think long. Stock price meets the 50-day SMA as resistance and bounces downwards, you should think short.
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Disclaimer:
Always do your own due diligence, full research, and homework, and consult with your own licensed investment professional before any investments. Any comments and analysis seen here are personal opinions, and we are not registered or licensed in any jurisdiction whatsoever to provide any investing advice. Any analysis, charting and comments should never be used for the purposes of assisting in any advisory decisions with any stock purchase or sale, and never to be used on the basis of making any kind of investment decisions. It is for the sole purposes of opinions and thoughts only of the markets. Thank you.
It bounced UP off the 50 day MOVING Averages in the past....as a history of how the stock moves...
BUT BUT BUT ---- Tesla is one of those RARE stocks that people just cant get enough of ----- so this thing may not follow normal patterns at all --- just saying! LOL.
But if it did... this is a possibility to come back a bit as a breather -- which is healthy ---- before GOING UP UP UP some more.
______________
KEY: 50-day moving average
Stock price above the 50-day moving average is considered bullish. Stock price below 50-day moving average is considered bearish. If the price meets the 50 day SMA as support and bounces upwards, you should think long. Stock price meets the 50-day SMA as resistance and bounces downwards, you should think short.
_____________________
Disclaimer:
Always do your own due diligence, full research, and homework, and consult with your own licensed investment professional before any investments. Any comments and analysis seen here are personal opinions, and we are not registered or licensed in any jurisdiction whatsoever to provide any investing advice. Any analysis, charting and comments should never be used for the purposes of assisting in any advisory decisions with any stock purchase or sale, and never to be used on the basis of making any kind of investment decisions. It is for the sole purposes of opinions and thoughts only of the markets. Thank you.