Sellers Profiting Heavily As Tesla Motors Misses To Close Key Deals

On Thursday, U.S. stocks, including Tesla Motors Inc, fell as oil prices pulled back from 10-month highs, despite strong weekly labor market data. The company has also received some unfavorable news the day before, as it missed out on a deal to supply the Los Angeles Police Department (LAPD) with 100 electric vehicles, and failed to acquire Simbol Materials, a lithium extraction startup, for $325 million. On chart H1, the stock closed down 2.62% from the previous session, to $229.36. RSI is moving down past the average to 47.60, indicating that a bearish force may be forming. The Stochastic is returning to the oversold zone, the %K line below the %D line. TSLA is anticipated to fall further.

Trade suggestion

Sell at 229.36, SL at 233.03, TP at 226.25

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