The Shares of the electric vehicle maker (Tesla) fell after it reported its first-quarter earnings. Tesla shares closed Wednesday's session 1.47% lower at $ 94.40 and are down 5.9% since closing at $ 38.20 on Monday.
Tesla announced a positive impact of $ 01 million in the first quarter on its sale of $ 72 million in Bitcoin.
On the other hand, Tesla CEO Elon Musk wants to turn every home into a distributed power plant that would generate, store and even return power to the grid, all with products manufactured by his company. Elon Musk, imagines a radically different electrical grid system than the one we have in our homes.
In the 4-hour chart, we note that the SMA of 21 has broken and it is also below the EMA of 200. At this time of writing, Tesla shares are trading at $694.15.
There is likely to be a bearish move to 2/8 murray around $500.00 each share, this is a psychological level.
In daily charts, we note that the #TSLA shares have entered a downward correction period, as it is below the 200 EMA located at $798.13.
As long as Tesla shares are trading below this level, a fall to the important support of $500.00 is likely, as in weekly charts the 200 EMA offers strong support around this area.
The eagle indicator in 4-hour charts is showing a neutral signal with some bearish inclination.
Support And Resistance Levels For April 29 - 30, 2021
Resistance (1) 717.63
Resistance (2) 729.89
Resistance (3) 745.82
Support (1) 676.55
Support (2) 662.89
Support (3) 642.51
