Tesla Despite several attempts Tesla has failed to break above the lower band of the gap range at 225.95
RSI has been rejected at its falling trendline and is now back below the 40 threshold following yesterday’s sell-off. No divergence on RSI suggesting lower Tesla levels. A re-test of the key support at around 195 is in the cards.
Medium-term Tesla is in a downtrend. However, as the weekly chart is showing Tesla is finding some support at the 55 and 200 weekly Moving Averages but if Tesla is closing below 195 on the daily it could fuel a sell-off down to 177.65 support, possibly down to 153.
A close above 226 i.e., lower band of the gap area will technically put the Tesla share in a neutral position short-term.
A close above 242.68 i.e., a close of th gap area will demolish the bearish picture possibly reversing it