Tesla dips on profit-taking - Analysis - 20-03-2017

Tesla's stock (TSLA) fell in the intraday levels, recording a loss of 0.21% in the last session, or 0.55 points, as traders took profits of past short-term gains, while the stock gathers momentum to help it rise again and vent off the overbought saturation apparent in relative power indicators, as the stock trades alongside the main upward short-term trend line, with ongoing positive support from the SMA for the last 50 days period. 

Therefore we expect the stock to return higher in the coming trading, as long as the support of 257.31 holds on, targeting the resistance of 273.51.