In case the Bears were able to break down the barriers at the dynamic support and resistance level, the price may test or reach $182 price level.
Resistance levels: $206, $229, $250
Support levels: $182, $161, $136
TSLA Medium-term Trend: Bearish
On the medium-term outlook, TSLA is bullish. When the Bulls pushed the price to reach the $206 level, the bullish momentum was lost. The Bears’ momentum was increased enough to push down the price towards the dynamic support level and the price is held at the level.
The Stock price is trading in between the 21 days EMA and 50 days EMA as a sign of weak bearish and bullish momentum. Meanwhile, the Stochastic Oscillator period 14 is at 25 levels with the signal lines bending down which indicates sell signal. In case the Bears were able to break down the barriers at the dynamic support and resistance level, the price may test or reach $182 price level.
TSLA Short-term Trend: Ranging
TSLA is ranging in the short-term outlook. Tesla price has lost the momentum after it decreased from the $206 level. The inside bar candle pattern formed at the $206 aided the fallen in price. The price reached the dynamic support level and could not go down beyond the level, and then the price consolidation began.
The Stochastic Oscillator period 14 is below 20 levels and the signal lines pointing up to indicate a buy signal.
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