Tesla (TSLA) operations disruptions caused by the Covid-19 pandemic could be detected next week if an electric vehicle manufacturer reports expected delivery figures for the first quarter, which could lead to sharp fluctuations in Tesla inventory. Historically, Tesla reported quarterly shipments somewhere in the first week after the end of the last quarter. On March 23, Tesla began stopping car production at its only automotive plant in the United States, in Fremont, California, to slow coronavirus proliferation.
Tesla, H4
Pivot: 510.00
Analysis:
Provided that the asset is traded above 480.00, follow the recommendations below:
The timeframe: H4
Recommendation: long position
Entry point: 510.00
Take Profit 1: 555.00
Take Profit 2: 605.00
Alternative scenario:
In case of breakdown of the level 480.00, follow the recommendations below:
The timeframe: H4
Recommendation: short position
Entry point: 480.00
Take Profit 1: 395.00
Take Profit 2: 340.50
Comment:
RSI shows the upward trend development during the day. The asset is out of the descending channel. Newly formed graphical analysis figure "Double bottom" indicates the end of the downtrend and the formation of an uptrend.
Key levels:
Resistance
Support
1050.00
353.00
970.00
250.00
665.00
195.00
Tesla, D1
Pivot: 500.00
Analysis:
While the asset is traded above 353.00, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 500.00
Take Profit 1: 665.00
Take Profit 2: 970.50
Alternative scenario:
If the level 353.00 is broken-down, follow the recommendations below.
Time frame: D1
Recommendation: short position
Entry point: 353.00
Take Profit 1: 250.00
Take Profit 2: 195.00
Comment:
RSI shows the possibility of developing a long upward trend. The key level of 353.00 has not been broken-down and the price has strengthened higher, which indicates the end of the downtrend
Key levels:
Resistance
Support
664.00
480.00
605.00
395.00
555.00
340.50
We also advise you to pay attention to General Electric for intra-day trading:
Pivot: 7.45
Analysis:
While the asset is traded above 6.85, follow the recommendations below:
Time frame: H4
Recommendation: long position
Entry point: 7.45
Take Profit 1: 9.00
Take Profit 2: 11.50
Alternative scenario:
If the level 6.85 is broken-down, follow the recommendations below.
Time frame: H4
Recommendation: short position
Entry point: 6.85
Take Profit 1: 6.00
Take Profit 2: 5.00
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