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Tesla Inc., Technical Analysis

11/8/2022 10:15 AM

The shares of Tesla Inc., the world's leading electric vehicle manufacturer, correct at 197.00.

On the daily chart, the price is moving in a local corridor with the boundaries of 233.00–194.00, and after a rather long hold around the annual low of 194.00, it is preparing to overcome it.

On the four-hour chart, you can see that the first breakout attempt was recorded yesterday. If the dynamics continue soon, this can be considered a new downward impulse, with the global target at 180.00. Otherwise, the price will turn up to 204.00, after which it will be able to reach the upper border of the corridor at 222.00.

Technical indicators keep a stable sell signal: fast EMAs on the Alligator indicator are below the signal line, and the AO oscillator histogram is trading in the sell zone.

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