Tesla from technical analysis point of view
Since we have share about the fundamental of $Tesla (TSLA.US)$ earlier, today we are going through the technical analysis of the stock by looking at the stock chart.
After the rebound Tesla to the recent peak of 200, it has been consolidating for approximately 3 months. It could not break the resistance level of 200.
The share price has been trading within the range of convergence triangle so far. If it break below 180 then highly likely the next support level might be around 160 and then follow by 140.
With the up coming recession in United stated I think we might see the opportunity for us to buy on dip instead of chasing high.
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Newbie123 : Actually it couldn’t find any support when it was going down a few months back . I think I won’t dismiss it reaching $100
bullrider_21 : Price of 167 now has already broke down from the triangle pattern.
Macdonell J : The next strong support would be 160.30 (0.5 Fibonacci)
Thecrawforrd Macdonell J : Love using fibonacci!! Just double check with rsi and NINE indicators lol