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Tesla Inc. (TSLA) – stock is trading around $349.93 dollars as of November, 13, 2019 and offering a possible buying price between $330.10 – $346.61. Let’s look at the stocks technical actions using a weekly chart.
2. The stock started the downtrend with a 200 and 50 day moving averages (DMA) bearish crossover back in March.
3. After a deep and brutal correction, the selloff finally got bottomed out and the stock regained the 50 DMA, in September for good.
4. The stock staged an explosive breakout propelled by a earning surprise and also regained the long term 200 DMA.
5. The stock also staged the bullish 50 and 200 DMA crossover recently.
6. The stock held on to the explosive price gains and consolidated the gains last three weeks.
7. The stock is offering possible buying price between $330.10 – $346.61, with a stop loss at $303.69.
This stock is already part of the Stocks Above 100 Dollars pick and performance will be tracked here .
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