TESLA LOOKING MIXED/BEARISH AFTER CEO TWEETS
Tesla is currently trading at $376.67 and has gained 0.029% from the previous closing price. Tesla shares surged more than 10 percent after being halted for more than an hour on Tuesday after CEO Elon Musk tweeted about taking the company private at $420 a share. However the company later announced a final decision had not been made yet.
Elon Musk said that taking Tesla private could remove some of the pressure on the closely watched company. He also said being private would end “negative propaganda from shorts.” In the past year, Tesla shares have traded as low as $244.59 in April and as high as $389.61 in September.
On the technical front, the RSI is currently at 68.72% and suggests that the market can continue trading sideways. The %K has crossed the %D from above to the downside at 86.02% and suggests that the market may move downwards. The current market price is above the upper band of the Bollinger bands and is currently heading upwards. Overall market sentiment is mixed to bearish.
TRADE SUGGESTION- SELL AT 380 TAKE PROFIT AT 370 STOP LOSS AT 385