Tesla Inc (TSLA) “On a long-term technical basis, the stock (TSLA) is trading above its 200-day moving average which generally implies it is in a positive trend. However, the stock has recently broken down through an important fibonacci fan trendline at 918.70 suggesting the next support level is at 869.82. This weakness suggests the long-term uptrend is turning neutral.

The stock has support at 869.82 and 785.00. If the stock breaks down through support at 869.82 then it will probably continue lower to 785.00. The stock will meet resistance at 918.70 and 968.99. If the stock breaks up through resistance at 918.70 then it will probably continue higher to 968.99. The 200-day moving average is at 498.76. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (81.19), and turning down, which suggests a pause or possible pullback, especially if near resistance. Confirm this with the Short-Term and Daily Outlook to keep from exiting prematurely.”