TESLA INC. (NASDAQ:TSLA): Beware of the DEATH CROSS and more pull back

Tesla stock took an 11+% nose dive on Thursday after the company warned of slower growth in 2024. This came as no surprise since we already issued a warning in October 2023, see "Staycautious on the EV sector". The stock is now retesting the $182.33 level.

A bearish DEATH CROSS chart pattern has emerged, meaning the stock could pull back further. The next support levels are at $165.80, a 60% retracement from its all-time high in Nov'21, and the trendline support at ~$135.13, respectively.

This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. We have no position in TSLA. Click here to view the latest update!


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