The Bulls may push the price up soon after the pullback.
Resistance levels: $206, $229, $250
Support levels: $182, $161, $136
TSLA Medium-term Trend: Bearish
TSLA is bullish on the medium-term outlook. The Bulls were in control of the TSLA market last week. The price observed a pullback before continue the bullish trend that placed the price at $206 level. The Bulls lose the momentum, an inverted hammer candle emerged which is a bearish reversal candle; the Bears’ momentum was triggered and the price rolled down towards $182 level.
The TSLA price is trading in between the 21 days EMA and 50 days EMA as a sign of an increase in the Bears’ momentum. Meanwhile, the Stochastic Oscillator period 14 is above 25 levels with the signal lines trying to bend up which indicates buy signal. The Bulls may continue pushing the price up soon after the pullback.
TSLA Short-term Trend: Bearish
TSLA is bearish on the short-term outlook. Tesla price is under the bearish pressure and the price continues to reduce targeting the $182 price level
The TSLA price is below the two EMAs as a bearish signal. The Stochastic Oscillator period 14 is above 25 levels and the signal lines bending up to indicate Buy signal.
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