Tesla climbs cautiously - Analysis - 29-11-2022

Economies.com
2 months ago

Tesla's stock (TSLA) rose in the intraday levels after a report the company is working on an updated Model 3 to cut costs, with the code name "highland", with the stock barely up 0.03% in the last session, or 6 cents, settling at 182.92, with trading volumes surpassing 93 million shares, above 10-day averages of 81 million shares. 

 

Technically, the stock is buoyed by positive signals from the RSI, amid the dominance of the main downward trend in the medium and short terms, with negative pressure from the 50-day SMA.

 

Therefore we expect the stock to return lower and target the support of 141.80, provided the initial support of 177.63 was breached.

 

Expected trend for today: Bearish

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