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 Look for a bounce off of the 50-day SMA, if that fails, be very cautious.

Today, after market, Tesla (TSLA) is anticipated to report third quarter EPS of $0.55 compared to $0.37 a year ago on revenue of roughly $8.3 billion vs. $6.3 billion last year. the corporate manufactures electric-vehicles and its expected move supported front-month options is 7.7%. The last time the corporate reported earnings the stock dropped 5.0%.

Looking at a daily chart, Tesla's stock price recently broke bent the upside of a short-term symmetrical triangle pattern that began to make in early-September. The RSI involves caution because it is currently holding just above 50. A symmetrical triangle is taken into account to be a continuation pattern and Tesla has been during a strong uptrend since mid-March, therefore the bias remains bullish. Tesla's stock price will likely bounce off of the 50-day simple moving average (SMA) and advance to retest the all-time high of 502.00 and alter . If price can breakout above the record high, than subsequent two targets would be 620.00 and 682.00. thereupon being said investors and traders should be very cautious because if Tesla closes below its 50-day SMA, it might be a really bearish signal. The last time that Tesla's stock price closed below its 50-day SMA, price dropped roughly 40% in 7 trading days. Given the RSI reading and the way Tesla appears to only use a SMA as support for roughly 2 bounces, their may be a chance that Tesla could break down, and if it does, price doesn't have strong support until 330.00.