It will take the Bulls to gain more pressure so as to break up the $206 resistance level. In case the Bears were able to break down the support level of $182 then, $161 level will be the next target.
Resistance levels: $206, $229, $250
Support levels: $182, $161, $136
TSLA Medium-term Trend: Ranging
TSLA is ranging on the medium-term outlook. The price bounced off from the resistance level of $206. The bearish pressure was exerted on the TESLA stock, the price dropped towards $183 level but unable to reach the level, supported by the two EMAs. The price is currently consolidating on and around the two EMAs.
The 21 period EMA and 50 periods EMA are horizontally flat within the range of $182 and $206 level with the price hovering over and around the EMAs which indicates that consolidation is ongoing in the TSLA market. The Stochastic Oscillator period 14 is at 25 levels with the signal lines showing no specific direction which indicates that the price are fluctuating within a spot. It will take the Bulls to gain more pressure so as to break up the $206 resistance level. In case the Bears were able to break down the support level of $182 then, $161 level will be the next target.
TSLA Short-term Trend: Ranging
TSLA is ranging in the short-term outlook. The Bulls and the Bears have lost the momentum after it bounced off the $206 level. The price reached the dynamic support level and started moving sideways, the bearish pressure could not push down the price beyond the level, and the Bulls also were unable to push up the price then it started consolidation.
However, the Stochastic Oscillator period 14 is below 50 levels and the signal lines pointing up to indicate a buy signal.
Note: Dapplife.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results