Tesla rises tentatively - Analysis - 15-10-2018

Tesla's stock rose in the intraday levels, amid negative pressure from the 50-day SMA, with the dominance of the downward correctional short-term wave, scoring a profit of 2.60% in the last session, or 6.55 points, while attempting to vent off oversold saturation in the RSI. 

Therefore we expect the stock to return lower, especially if it settled back below 258.95, representing the ratio 61.8% of Fibonacci retracement levels for an ascending wave in the medium term (from 178.19 to 389.61), targeting the next support at 228.09, which represents the ratio 76.4%. 

Expected trend for today: Likely Bearish