Will Tesla Snap 6-Day Losing Streak Today? What's Going On With The Stock
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) shares were rallying in premarket trading on Monday, potentially ending a six-session losing streak. The stock's reversal is due to its oversold nature after falling to its lowest level since early June. The relative strength index suggests oversold levels. The stock has resistance levels around $240 and $276, and support around $209 and $190. The rise may also be due to the broader market recovery. However, concerns over demand amid rising interest rates and economic uncertainties may limit gains.
August 21, 2023 | 9:43 am
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Tesla shares are rallying in premarket trading, potentially ending a six-session losing streak. The stock's reversal is due to its oversold nature. However, concerns over demand amid rising interest rates and economic uncertainties may limit gains.
The rally in Tesla shares in premarket trading indicates a potential end to the six-session losing streak. This is due to the oversold nature of the stock. However, concerns over demand amid rising interest rates and economic uncertainties may limit the gains, which could impact the stock's performance in the short term.
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