Tesla muscles through negative pressures - Analysis - 16-04-2018

Tesla's stock (TSLA) rose in the intraday levels, scoring a profit of 2.13% in the last session, or 6.26 points, amid negative pressure from the 50-day SMA, while the RSI reached extremely overbought levels compared to the stock's movements, as the stock settles below the pivotal resistance of 308.85, representing the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the medium term (from 178.19 to 389.61). 

Therefore we expect the stock to return lower, targeting the support of 283.90, which represents the ratio 50% of the same retracement levels, as long as the resistance of 308.85 holds on.