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Look for Shares of Tesla Inc to Potentially Rebound after Yesterday's 4.84% Sell Off

By Nick Russo

Tesla Inc (NASDAQ:TSLA) traded in a range yesterday that spanned from a low of $222.88 to a high of $231.05. Yesterday, the shares fell 4.8%, which took the trading range below the 3-day low of $225.87 on volume of 4.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Tesla Inc share prices have been bracketed by a low of $176.99 and a high of $379.49 and are now at $223.90, 27% above that low price. The 200-day and 50-day moving averages have moved 0.26% lower and 1.29% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Tesla Inc on June 6th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $206.40. Since that recommendation, shares of Tesla Inc have risen 13.9%. We continue to monitor TSLA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders tesla inc

Ticker(s): TSLA