Tesla Stock Technical Analysis: Downtrend

Tesla Stock Technical Analysis: Tesla stock is trading in a downtrend today, with a consolidation zone appearing. The stock recorded a high of $219 and a low of $214, and is currently at $215.

Tesla Stock Technical Analysis Trend Analysis:

The downtrend is evident from the chart, as prices appear to be trading below the moving averages, reinforcing the negative trend.

Technical Analysis:

  • Moving averages: confirm that prices are below their levels, which supports the downtrend.
  • MACD: indicates a negative trend, but there are signs of weakening downward momentum, which may open the way for a potential rebound.

Trading Expectations:

If the downward pressure continues, the stock may head towards key support levels at $214. In the event of a rebound, it may head towards $218.

Tesla Stock Technical Analysis

Trading strategies based on Buy/Sell levels

Tesla Stock In case of buying           in case of selling
Entry point 222 211
Target Point 1 (TP1) First resistance: 225 First support: 205
Target Point 2 (TP2) Second resistance: 230 Second support: 193
Stop Loss (SL) 211 222

 

Tesla stock is showing a downtrend with a consolidation zone. It is advisable to monitor any economic developments or company-specific events that may affect the stock’s movement in the upcoming sessions.

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