fbpx
QQQ
+ 0.00
342.63
+ 0%
DIA
-0.17
333.13
-0.05%
SPY
+ -0.02
414.94
+ 0%
TLT
+ 0.00
145.73
+ 0%
GLD
+ 0.05
164.88
+ 0.03%

Tesla, As Expected, Finds Support At $590: What's Next?

May 13, 2021 9:59 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Tesla, As Expected, Finds Support At $590: What's Next?

Shares of Tesla, Inc. (NASDAQ:TSLA) found support at the $590 level. This move was expected. Wednesday's closing price was $589.89 and traders knew there would be support at this level because it was the bottom in March. Former support levels can repeat themselves and that’s what happened here.

It’s unlikely Tesla will consolidate or trade around the $590 level for long.

There’s a good chance shares make a big move over the next few days. It could be a rebound or might be a breakdown, but once the trend starts to form, traders will jump into the market and add momentum to the move.

tsla_5.png

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.


Related Articles

Tesla Tests Break Out And Flies North: What Does The Chart Say?

Tesla Inc (NASDAQ: TSLA) shares were moving higher Thursday after the Federal Reserve calmed investors by leaving interest rates unchanged. read more

Why Tesla, Nio And Palantir Are Moving Today

Tesla Inc (NASDAQ: TSLA), Nio Inc - ADR (NYSE: NIO) and Palantir Technologies Inc (NYSE: PLTR) shares are trading higher by 1.2%, read more

Now Is The Right Time For New Investors To Buy Bitcoin, Says Pantera CEO

Pantera Capital CEO Dan Morehead took to Twitter on Wednesday to make the point that the Bitcoin (BTC) market was below trend and “it’s best time to buy” for new investors. read more

Ethereum Holds Critical Pattern: What Does The Chart Say?

Ethereum (CRYPTO: ETH) is down about 45% from its May 12 all-time high of $4,380 amid an overall cryptocurrency rout. Some coins, such as Shiba Inu (CRYPTO: SHIB), have made gains this week, but most cryptos are down substantially from their May highs. read more