TSLA has recently broken through downward resistance trend line turning it into a support line.
Should be cause for some optimism of a turn around. Keep in mind though TSLA products are not cheap and sensitive to economic swings. Economy is on shaky grounds so buying this low should be done with a long term horizon.
- TSLA has been on a long downward trend and recently broke through
- stock has held breakout past few periods giving confidence in new trend
- RSI still remains below 50 though which is bearish sign.
Should be cause for some optimism of a turn around. Keep in mind though TSLA products are not cheap and sensitive to economic swings. Economy is on shaky grounds so buying this low should be done with a long term horizon.