Tesla
shares (NASDAQ:TSLA) have been going southwards systematically, especially since
October 2018. The market has been experiencing a series of higher lows, lower
highs and lower lows.
Price has
recently broken below the Lower Trendline, showing a continuation of the bearish
trend. At the same time, the RSI period 14 has gone below the level 50. There
is a “sell” signal in the market.
The
outlook for Tesla is bearish for this year; and so, further southwards journey
remains a possibility. Any rallies in the market would be transitory, and they
would invariably lead to further sell-offs, whether slowly or speedily.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Trading realities: Trading realities
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