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Bearish Moving Average Cross by Tesla Motors Inc (TSLA)

By Shiri Gupta

Today, shares of Tesla Motors Inc (NASDAQ:TSLA) have fallen below their 10-day MA of $302.06 on a volume of 1.6 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Tesla Motors Inc have traded between a low of $141.05 and a high of $313.73 and are now at $300.15, which is 113% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.8%.

SmarTrend recommended that subscribers consider buying shares of Tesla Motors Inc on March 16th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $262.40. Since that recommendation, shares of Tesla Motors Inc have risen 15.9%. We continue to monitor TSLA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses tesla motors inc

Ticker(s): TSLA