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Explained: Technical analysis of Tesla stock and its overnight move

Updated : May 11, 2021 15:54:07 IST

Tesla is not just a company, it has got a bit of iconic status. It is not just a car company, it is a battery company, it is a solar company, it is a space exploration company, underground transportation system company, etc.

It is a whole bunch of stuff, all future businesses rolled into one as far as this entire growth/tech stocks are concerned for the past one year or so.

What has changed in Tesla?

Tesla as of yesterday’s close has broken below a trend line, which was intact for the past one year, from the time the stock was at nearly $80 and this is a little over a year ago. It got to nearly $900 in the beginning of this year, in January of 2021, and right now it is just under $700 or so.

CNBC-TV18’s Prashant Nair has more details on the technical of Tesla.
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