On October 24th, 2019, Tesla’s stock (TSLA) closed at $59.95, up $9 from the previous day. That was the day TSLA crossed above the 227 day SMA, which was at $52.74. Since that day, TSLA tested and respected that SMA line in several occasions:
- 18-March-2020
- 19-May-2021
- Hovered around between 3-June-2021 and 17-August-2021
Nowadays, TSLA is trading down with the rest of the market and broke the $1000 price level down. TSLA holders may want to pay close attention to the price behavior around the 227 day SMA. That MA line may act (again) as a strong support area. Currently the 227 day SMA is at $792, and in an uptrend.
The aforementioned considers the body support (open/close) of the price bars/candles. If you are looking for a wick support, the line to watch is the 234 day SMA.
As resistance lines, on January 14th, 2022, TSLA started respecting the 5 day SMA (body support) and 11 day SMA (wick support).
Here’s TSLA’s daily chart and the MA lines:
Zooming in:
The most imminent event that can contribute to a significant move in Tesla’s stock price is the 21Q4 earning report, scheduled to be released on Wednesday of this week, January 26th, AMC.
We’ll be watching.