TESLA INC. (NASDAQ:TSLA): Tesla's perpetual price cuts could hurt its stock

 


Tesla cut prices again on Friday, between $1,000 and $5,000, on all U.S. models. The stock broke its 50-day EMA on Thursday and is retesting the trendline support at ~ $182. If the trendline support can't hold, there will be another trendline support at ~ $173.

The market was closed on Good Friday, so we will find out on Monday how the price cuts will affect the stock price. Beware that a double-top (~ $207) chart pattern has emerged with a neck line at $165.80.

Tesla will report their Q1 2023 earnings on April 19. Let's see if the company can give more color on these perpetual price cuts.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!



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