TESLA INC. (NASDAQ:TSLA): Beware of the falling knife...Tesla stock could pull back further to retest $207.25

Tesla stock made a failed breakout after Elon Musk delayed his 8/8 Tesla robotaxi event to October 10 and Tesla's financial results for Q2 2024 were disappointing. Investors were disappointed that Tesla did not disclose their Full Self-Driving (FSD) take rate. In mid-May, Elon Musk debunked claims that the take rate for FSD was just a mere 2% after the free subscription ran out, per Teslarati. All eyes are now on the re-scheduled 10/10 Tesla robotaxi event. The stock is retesting its 50-/600-day EMA. The next support level is $207.25, or the 50% correction level.

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

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