CMT Michael Kahn On Tesla Trading Down: Stock Has Been Lagging Since Summer
Chartered Market Technician Michael Kahn told Benzinga that the 200-day moving average is broken in the chart for Tesla Motors Inc (NASDAQ: TSLA) stock.
“There is little support if the trendline breaks by a significant margin,” he said. “This has not yet happened, but it has a tentative break.”
What is most interesting to Kahn is that this “former momentum leader and Wall Street darling” has been lagging since the summer.
Shares of Tesla are trading down 1 percent down.
Brianna Valleskey contributed to this report.
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