Tesla not allowed to test or transport the public, paid or unpaid, in an autonomous vehicle with or without a driver…Shares dip to $312.70. High reached $323.63 today.
The price is still above the lower for the day at $308 and still higher on the day, but price is dipping.
Taking a look at the hourly chart, the price has been consolidating and displays a classic symmetrical triangle pattern, which is characterized by converging trendlines connecting lower highs and higher lows. This typically signals a period of consolidation before a potential breakout.
The price has just moved back below the 200 and 100 hour MAs at $319.26 and $315.66. On the downside, the rising lower trendline cuts across near $301 and moving higher. On the top side, a move above $342.60 presents the downward sloping upper trendline.
This article was written by Greg Michalowski at investinglive.com.
