TESLA INC. (NASDAQ:TSLA): Tesla stock got rejected at its 50-day EMA as investors are unimpressed with price hikes

 


Tesla stock ran up to $177.38 a share in early trading on Friday after Elon Musk confirmed the hire of a new Twitter CEO. The stock, however, got rejected at its 50-day EMA ($175.37) and made an intraday reversal to close at $167.98 a share, down 2.38% for the day.

MarketWatch reported on Friday that Tesla raised prices on both the Model S and Model X by $1,000 each, and also bumped up the price of its Model Y by $250. Some investors might have not liked what they saw. So, it was time to SELL. The good news is that some buyers could show interest if the stock can stay above its trendline support.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

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