As long as the Bears break down the two EMAs, the price may reach the previous low of $182 level.
Resistance levels: $206, $229, $250
Support levels: $182, $161, $136
TSLA Medium-term Trend: Bearish
TSLA is bearish on the medium-term outlook. The Bullish movement pushed up the price to reach the resistance level of $206. The Bulls’ pressure was not enough to break up the level and the bears also defended the mentioned level. The Bears gained more momentum and the price descended towards $182 support level but held by the dynamic support level.
The TSLA price is still trading in between the 21 days EMA and 50 days EMA as a sign of an increase in the Bears’ momentum. The Stochastic Oscillator period 14 is below 25 levels with the signal lines bending down which indicates a further decrease in CGC price. As long as the Bears break down the two EMAs, the price may reach the previous low of $182 level.
TSLA Short-term Trend: Ranging
TSLA is on the ranging mode in the short-term outlook. Tesla price is currently consolidating at the range of $206 and $182 price level.
The TSLA price is hovering over the two EMAs and the 21 periods EMA is interlocked with the 50 periods EMA as a consolidation signal. The Stochastic Oscillator period 14 is at 25 levels and the signal lines bending down to indicate sell signal.
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