32no
Long

In $TSLA, Everything Points To Upward Move

NASDAQ:TSLA   TESLA INC
1. Each bottom represents an approximate $60 increase from the previous one ($55-$115-$175-$235) and on Friday we closed just above $235.
2. TSLA             rebounded off of the orange trend line twice, seems like its going for a third time.
3. $235-$240 level has a history of being a support/resistance level dating back to March of this year.
4. The RSI shows TSLA             is oversold at the moment, and when TSLA             is oversold, it doesn't stay that way for long.
5. The stock is currently at the 100 Day Moving Average (DMA), where it could potentially find its first support.
6. TSLA             hasn't gone below the 200 DMA in 2 years, meaning there is huge support there, and it is only $15 (6.4%) away if the stock manages to break below all the other trends.
vlad.adrian PRO
2 years ago
I don't think everything points to an upward move. Tesla broke on Friday, no need to catch a falling knife
Reply
32no vlad.adrian
2 years ago
The falling knife is padded by short sellers who will cover for profits and by institutions who jump in at these opportunities.
Reply
ChimbOt PRO
2 years ago
Depends how market perform today imo
Reply
32no ChimbOt
2 years ago
Looks like we are down to the last support, the 200 DMA, which has held today.
Reply
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