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Possible Bullish Inside Day Candle Pattern Detected for Tesla Inc (NASDAQ:TSLA)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Tesla Inc (NASDAQ:TSLA) based on the price action in the company's shares. Yesterday's price range of $700.01 and $712.48 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Tesla Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Tesla Inc (NASDAQ:TSLA) defies analysts with a current price ($732.11) 57.7% above its average consensus price target of $309.69. Tesla Inc shares have support at the 50-day moving average (MA) of $641.00 and additional support at the 200-day MA of $412.17.

Tesla Inc share prices have moved between a 52-week high of $968.99 and a 52-week low of $176.99 and closed yesterday at 314% above that low price at $732.11 per share. The 200-day and 50-day moving averages have moved 1.84% higher and 0.32% lower over the past week, respectively.

Tesla Inc. designs, manufactures, and sells high-performance electric vehicles and electric vehicle powertrain components. The Company owns its sales and service network and sells electric powertrain components to other automobile manufacturers. Tesla serves customers worldwide.

SmarTrend is tracking the current trend status for Tesla Inc and will alert subscribers who have TSLA in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle tesla inc

Ticker(s): TSLA