Tesla Motors Inc. — In the Shop for RepairsTesla Motors Inc. ($TSLA) averages are at $172.41 (21 day SMA), $173.60 (50 day SMA), $102.80 (200 day SMA). Over the past 52 weeks TSLA has traded from a low of $29.85 to a high of $194.50. TSLA was last at $149.75 on a volume of 23,496,100. Average daily volume has been at 10,410,381.
Last night Tesla announced earnings results that were actually above estimates. But they were below expectations and the stock is down nearly 15%. The uptrend was actually broken last month after advancing more than 400% in 2013. Now the stock has been struggling. Technical traders should be looking at two levels for shorting opportunities.
First, if TSLA rallies back to above $160, the risk of further advances is low. Second, a break below the current support level of $146.36 is likely indicative of more selling pressure to come.
Tesla Motors,Inc., designs, develops, manufactures and sells high-performance fully electric vehicles and advanced electric vehicle powertrain components.