250-252 is a very strong support for Tesla. It also forms a falling wedge.
Though I actively trade BTC and ETH derivatives, I do dabble in equities, forex and indices. This was my recent Tesla trade which I closed on the 30/10 6/10/2018 2:09 Limit Order Buy Trade Tesla Motors Inc 0.36 Uts 263.73 30/10/2018 0:48 Take Profit Tesla Motors Inc 0.36 Uts 344.5
As the price is dipping down to test historic resistance levels, and RSI is very low, I expect a quick bullish reaction and the previous gap to be filled in the next day or two. Like this idea if you agree with me.
Tesla stock is currently under its 200MA on the weekly chart, trend line keeps the stock in a uptrend. 2 Yellow zones for targets as we go towards 2019. 20 & 50MA are acting as resistance and stock is currently trading in-between 20 & 50MA and 200MA.
tesla looks great for rebound, hitting two major supports.
Simple Analysis - Tesla has found support here at $260 - RSI is currently oversold at 27. - Bull Volume is greater than the previous bear candles. If you're looking to go LONG this zone will be your entry point with $390 as a target. I feel like it'll range here for a bit before breaking out later on next year.
Turbulent days/weeks for Tesla and Elon Musk. After Musk's tweet saying he planned on taking Tesla private for $420 (20% higher than the price at that time) spurred a major bull run the troubles began. First of all he mentioned that the funding was secured...which it wasn't. Possible investor was a Saudi controlled investment company which seems to be backing...
watch for a continued up move now that the correction to the downside has been completed.. If price breaks trend line chart is invalid