TSLA : Technical Analysis - 21 Oct 2020

22 באוק׳ 2020

On a daily time frame : TSLA is currently at its possible support level of 415. If it breaks next support level is 390. Share price may face little resistance at 430, if broken next level is 440 and ultimate short term target is 445. It has formed grave stone doji candle showing upside price rejection, intersting fact is, price has not gone down as well as compared to last day closing price. This indicates that the share price is trying to seek a support at the current levels. Also, RSI has started moving up - neutral to bullish move. Volumes were however on the lower side which is not a good sign. For tomorrow : if the stock trades above its pivot point of 425 with volumes, you may seek an entry in this stock. Alternatively, to be on the safe side, you may consider waiting for one more day allowing the stock price to close above the levels of 423 in tomorrow's session and plan your trade for Friday.