Tesla leans on SMA support - Analysis - 07-01-2021

Tesla's stock (TSLA) fell 2.15% in the last session amid negative signals from the RSI after reaching overbought levels, while leaning on the support of the 50-day SMA, lending it positive momentum, amid the dominance of the main upward medium-term trend. 

Therefore we expect the stock to return higher, targeting the record resistance of 1,242.49, provided the support of 986.00 holds on.

Expected trend for today: Bullish