The Bears equally defended the $206 resistance level; a Doji candle formed at the level followed by strong bearish candles implies that the price is reversing at the resistance level.
Resistance levels: $206, $229, $250
Support levels: $182, $161, $136
TSLA Medium-term Trend: Bullish
TSLA is bullish on the medium-term outlook. The bullish momentum was able to push up the TSLA price and reached the resistance level of $206. The Bulls lose the momentum and unable to penetrate the level. The Bears equally defended the resistance level; a Doji candle formed at the level followed by strong bearish candles implies that the price is reversing at the resistance level.
Tesla (TSLA) price maintain its trade above the 21-period EMA and the 50 periods EMA at a distance range between the two EMAs and the TSLA price, which connotes increase in bullish momentum and buy signal.
TSLA Short-term Trend: Bullish
TSLA is bullish on the short-term outlook. The inside bar candle was produced after the bullish momentum increased the price to the resistance level of $206 yesterday. The inside bar candle is a bearish reversal candle. The price pulled back to touch the dynamic support and resistance level. After the pullback, the bullish trend may continue.
The Stochastic Oscillator period 14 is at 25 levels (oversold level) which indicate that the buyers may continue its bullish movement very soon.
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