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Tesla Inc Is A Buy Because Of This Technical Level

Shares of Tesla Inc (TSLA) have fallen from nearly $1,000 to $350. This collapse is coming on the back of Covid-19 which is devistating the global economy. While panic is palpable, investors who have cash sitting on the sidelines may want to check out the Tesla chart. In fact, Tesla Inc is a buy based on a trend line support dating back to 2017, 2018 and 2019. This $350 level was the level it saw for years before finally breaking out. The thought process goes, former major resistance levels become major supports. While I would never recommend putting a lot of capital in Tesla during the global panic, a little bit of money now may turn into a lot in the future when things settle down.

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