Watching for TSLA to reclaim 250-260. If it can't, watching 180.

30. Apr. 2019

TSLA lost a critical support around $250 following some bad fundamental news, poor EPS, and a variety of other problems. TSLA is currently sitting right around $240; and I'll be watching to see if it can reclaim $250-260 as support again, or if 250-260 will became new resistance now. We broke down from our multi-year rising line of support, and broke down well below the 200 week moving average which was acting in tandem with that rising line of support, so those may end up being staunch resistance levels now if TSLA attempts to move higher from where it is currently at. Ultimately, the $180 level is the next area of interest if this stock cannot regain traction and reclaim $250-260 as support.

Moving average guide (All Weekly for this post):
50 weekly moving average in Green.
100 weekly moving average in Yellow.
200 weekly moving average in Red.

Area's of interest:

-Watching for the $250-260 to possibly became new resistance, which would confirm the bearish S/R flip.
-Watching the 200 weekly moving average and the previous rising line of support; both of which could now act as resistance as well.
-If we do not reclaim these key levels, we could see TSLA return to a previous support zone around $180.

-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.