The Tesla Inc. (NASDAQ: (TSLA)) update and the technical summary table below can help you manage risk and optimize returns. Here we provide day, swing, and longer-term trading plans for (TSLA), and we cover 1000 other stocks too. This is a snapshot, it was real-time when the report was published, but prices change and so do support and resistance levels. Update this report, and get unlimited real time reports here: Free Trial.
Source: Stock Traders Daily
Review the (TSLA) Trading Plans:
Long Term Trading Plans for (TSLA)
May 8, 2021, 4:37 pm ET
The Technical Summary and Trading Plans for (TSLA) help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this (TSLA) Report.
(TSLA) – (Long) Support Plan
There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.
(TSLA) – (Short) Resistance Plan
The technical summary data is suggesting a short of (TSLA) as it gets near 694.98, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 696.99. 694.98 is the first level of resistance above 672.37, and by rule, any test of resistance is a short signal. In this case, if resistance 694.98 is being tested, so a short signal would exist.