Tesla fails to hold gains - Analysis - 10-12-2018

Economies.com
2018-12-10 14:44PM UTC

Tesla's stock slid 1.40% in the last session, or 5.10 points, after plumbing an intraday low at 379.49, bouncing off it higher and turning the gains into losses before the close, with positive pressure from the 50-day SMA, coupled with positive signals from the RSI, while buoyed by a positive pattern that formed in the short term, the Falling Wedge pattern. 

 

Therefore we expect the stock to return higher, targeting the resistance of 387.46, as long as the support of 326.67 holds on. 

 

Expected trend for today: Likely Bullish 

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