Consider the price action around $380 on August 18-19. TSLA jumped to that level after the stock split was announced. (It was a new record high at the time, split adjusted.) For two full sessions the electric-car maker pushed and struggled before breaking out and continuing all the way toward $500.
Interestingly, buyers defended that that price area on Wednesday and Thursday of this week. There was even a failed breakdown yesterday, which got bought.
Turning to the , TSLA also bounced at its 50-day ( ). (But even then the 50-day was about $20 below the $380 area.)
Finally, a triangle is starting to emerge on the . This could be the next big thing to watch. Based on the current action, it could indicate a bounce toward roughly $440.
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