Annual Forecast for Tesla – 2020

Tesla Inc. shares (NASDAQ:TSLA) have been going downwards in what would rather be called a jumpy and erratic manner. The signal for the market remains bearish.

The ADX period 14 is round the level 30, which means that the momentum in the market is great. The DM+ is below the DM-, which means bears are reigning. The MACD default parameters, has both its signal lines and histogram below the zero line. There is a Bearish Confirmation Pattern in the market, and opportunities to sell rally attempts ought to be sought.

As long as the DM+ is below the DM- (ADX) and the MACD signal lines and histogram are below the zero line, the trend would be down.

The outlook on TSLA remains bearish for this year.

 

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