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Tesla is scheduled to report its Earnings on Wednesday. The trading price of Tesla stock at the time of writing was $294.03 and the market looks in positive mode. Tesla shares fell by 2.4% on Monday. It has been losing strength over the last three trading sessions. The stock constitutes 0.6% of the Nasdaq 100. The Nasdaq 100 gained 0.29% at the time of writing.
According to market sources Tesla earnings are expected to be below the market expectations.
On the technical front, the RSI is currently at 39.06% and suggests that the market may continue trading sideways. The %K has crossed the %D from above to the downside at 30.55% and suggests that market may move downwards. The MACD has also generated a selling signal as the fast line is below the slow line and both are below zero
TRADE SUGGESTION- SELL AT 296 TAKE PROFIT AT 290 STOP LOSS AT 299