TESLA INC. (NASDAQ:TSLA): Tesla stock is deepening into bear market territory ($390.83) as global sales plunge

 


Tesla stock broke the key support level at $377.42 of a descending triangle chart pattern after a Reuters report said that Tesla's China sales dropped 11% in January while Tesla sales in Germany plunged almost 60%. The price target in a descending triangle breakdown is $300.35, or $1T market cap. If the $300.35 level can't hold, $TSLA could head down further to retest the November 6, 2024 breakout at $273.54.

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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