Tesla Inc. (TSLA/NASD) general review
21 August 2018, 11:59
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | SELL STOP |
| Entry Point | 289.90 |
| Take Profit | 275.00, 260.00, 250.00 |
| Stop Loss | 305.00 |
| Key Levels | 250.00, 275.00, 290.00, 310.00, 330.00, 360.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 310.10 |
| Take Profit | 340.00, 350.00 |
| Stop Loss | 295.00 |
| Key Levels | 250.00, 275.00, 290.00, 310.00, 330.00, 360.00 |
Current trend
Tesla shares lost 18.74% of the value since August 7 after the CEO's statements about its possible transfer from public to private equity. As a result of yesterday's trading session, the emitter's quotes fell below the three-month low amid a downgrade by JP Morgan analysts.
During the previous week, Tesla shares dropped by 13.64%. S&P500 index went up by 0.63% during the same period.
Support and resistance
Last sessions, company's shares were influenced by "bearish" tendencies. At the moment, #TSLA shares are consolidating. The emitter is testing local levels of support and resistance: at 290.00 and 310.00 respectively. The instrument has the potential to further correction.
Indicators show the strength of the sellers: the price has consolidated above MA(50) and MA(200), and MACD is in the negative zone. Positions are to be opened from key levels.
Comparing company's multiplier with its competitors in the industry, we can say that #TSLA shares are neutral.
Support levels: 290.00, 275.00, 250.00.
Resistance levels: 310.00, 330.00, 360.00.
Trading tips
If the price consolidates below the support level of 290.00, #TSLA may continue to correct. Potential profits should be locked in by orders at 275.00, 260.00 and 250.00. Stop loss – 305.00.
If the price consolidates above the level of 310.00, one may consider buying the company's stock. The moving potential is aimed at the area of 340.00-350.00. Stop loss – 295.00.
Implementation time: 3 days.
Tesla shares lost 18.74% of the value since August 7 after the CEO's statements about its possible transfer from public to private equity. As a result of yesterday's trading session, the emitter's quotes fell below the three-month low amid a downgrade by JP Morgan analysts.
During the previous week, Tesla shares dropped by 13.64%. S&P500 index went up by 0.63% during the same period.
Support and resistance
Last sessions, company's shares were influenced by "bearish" tendencies. At the moment, #TSLA shares are consolidating. The emitter is testing local levels of support and resistance: at 290.00 and 310.00 respectively. The instrument has the potential to further correction.
Indicators show the strength of the sellers: the price has consolidated above MA(50) and MA(200), and MACD is in the negative zone. Positions are to be opened from key levels.
Comparing company's multiplier with its competitors in the industry, we can say that #TSLA shares are neutral.
Support levels: 290.00, 275.00, 250.00.
Resistance levels: 310.00, 330.00, 360.00.
Trading tips
If the price consolidates below the support level of 290.00, #TSLA may continue to correct. Potential profits should be locked in by orders at 275.00, 260.00 and 250.00. Stop loss – 305.00.
If the price consolidates above the level of 310.00, one may consider buying the company's stock. The moving potential is aimed at the area of 340.00-350.00. Stop loss – 295.00.
Implementation time: 3 days.
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