Chart of Day: Tesla Oversold (TSLA) – 3/19

Keep an eye on Tesla (TSLA).

After slipping to $160, the oversold electric vehicle stock is just starting to pivot higher.  It’s also starting to pivot from over-extensions on RSI, MACD, and Williams’ %R. From its last traded price of $173.13, we’d like to see it retest $195.92 initially.


The stock is pushing higher today on news it’s raising its prices for its Model Y vehicles by $1,000. This comes after the company realized that price cuts were eating into margins.

Also, as noted by, “The recent uptick in stock price comes after a challenging period for the EV maker. Over the past two weeks, Tesla’s stock has seen a significant downturn, dropping by 19.3%, which marks the company’s worst two-week performance in the last 15 months. Year to date, Tesla’s stock has decreased by 34.2%, making it the worst-performing stock in the S&P 500 index, which has gained 7.3% during the same period.”

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