MA good support? Which MA?
TSLA fell below 200 dma at the start of the week and has not closed above it all week.
ZoharCho
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@bjorn2z, Hi, I meant in the past it was support, now it is resistance... hope it now makes sense.
bjorn2z
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@ZoharCho, Of course. Support/Resistance are two sides of the same coin. Simply asking 560 is what MA? 590 is 200 day SMA.
ZoharCho
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@bjorn2z, 560 is not from MA, it is from the previous resistance on March 8th. 590 is the 200 day SMA as you said which can give more possibility that the support will hold
bjorn2z
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@ZoharCho, Got it. Understood now. The number I had in mind from Mar 5, and Dec 2, was 540. So 560/540 is holding, but being under 590 all week could mean that the next test of 560/540 will produce a breakdown, then no supports on the way to 470, 450, 420, 400.
SaeedSajedi
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It is just a temporary move up. TSLA goes below 500 for sure.
ZoharCho
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@SaeedSajedi, Nothing is 100% , risk management is key.