TESLA INC. (NASDAQ:TSLA): UPDATE 1: Stay cautious on the EV sector

 



Tesla stock took a deep dive (down 5.47%) on Thursday on concerns over their ambitious plans to sell 20 million EVs by 2030, per HSBC. EV demand has been slowing down and no one can tell when the boom times will be back. 

The stock is now retesting the key $207.25 support level but could be heading down to test the $190 trendline support if the $207.25 level can't hold. Tesla stock has been trading under its 600-day EMA since October 18. One may want to pay close attention to the 50-day and 200-day EMA as they could cross over each other, forming a death cross, in a little less than 2 weeks.

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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